Millicom continued strong mobile performance in Q1

Millicom Chief Executive Officer Mauricio Ramos commented:

"During the quarter, we continued to execute our plans, which are yielding positive results as we navigate the challenging macroeconomic environment. I am particularly pleased with our performance of Tigo Business (our B2B operation), where organic growth continued to accelerate, thanks to our clearly-defined strategy centered on digital services. We also saw robust growth in Mobile, as a result of recent network investments and pricing actions, which are driving an ongoing and valuable shift to postpaid and improving ARPU trends. Additionally, our continued commitment to ESG yielded positive results as we maintained our MSCI ESG rating at 'AA', placing above the industry average and reinforcing our position as a leader in corporate governance.

 As we look to the future, we remain focused on improving operational efficiency. During Q1, we incurred meaningful restructuring costs as we began to implement Project Everest, a comprehensive program that is expected to deliver run-rate savings of over $100 million by the end of 2024. This project will allow us to become more agile and efficient, and we expect the financial benefits will begin accruing during the year.

 We have also made significant strides in optimizing our investment activity, securing multi-year agreements with key vendors to lower our annual spend as we commit to expand capacity and coverage of our networks in coming years. As a result of these initiatives and our solid top-line performance, we remain confident in our ability to achieve the medium-term targets we outlined in early 2022."

1st anniversary of our Conectadas digital education platform

Intending to achieve an inclusive digital transformation in the region and contribute to the closing of the digital gender gap, a year ago, on April 27th we launched our Conectadas digital education platform with four free learning modules:

  • Social Networks
  • Social Networks for Business
  • Personal Finance
  • Finance for Business

More than 171,000 women participated in the program in 2022 alone, gaining access to information and opportunities that will help them improve their lives and communities.

In 2023 we are strengthening the platform so the beneficiaries will have access to new content and tools for training digital skills.

 Check out our previous features: