Observer Report
Islamabad
Pakistan’s number one 4G operator and largest internet and broadband service provider Jazz invested over PKR 3.7 billion during the 3rd quarter of 2020 with a strategic focus to expand 4G services. During this period, 4G users reached 22.2 million, a 70% increase YoY.
This increase in data subscribers, coupled with strong demand for data and network expansion, saw data revenue grow by 25.4% YoY. Jazz’s overall subscriber base grew by 8.5% YoY reaching 64.2 million. Overall, with organic/underlying revenue growth of 7% YoY, Jazz showed encouraging signs of recovery following Covid-19 induced lockdowns in Q2 2020.
“Jazz’s third quarter was driven by continued investment in network expansion and our digital businesses, including financial services,” said Aamir Ibrahim, CEO, Jazz. “This performance is a testament to the important role our services play in our customers’ lives and to Jazz’s relentless expansion and innovation. We remain committed to empowering the masses with digital tools necessary in creating equal opportunities in today’s world.”
During the reporting period, Jazz strengthened its leading position in digital financial services as monthly active users on JazzCash reached 9.7 million, an increase of 56% YoY.
