- Liquid Intelligent Technologies Zambia reports 18% revenue growth
- Change in strategy, rebranding and investment in human capital led to growth
- Cybersecurity and cloud revenue increased by 195% in Zambia.
Sandton- The Zambian unit of Pan African group Liquid Intelligent Technologies has reported a sharp growth in revenue for the financial year 2023. The subsidiary reported a double-digit growth of 18% in total revenue for the year which compared to a revenue growth of 7% in the prior comparable year.
Group CEO of Liquid, attributed the growth in performance to a change in the organisation’s strategy which entailed re-segmentation, rebranding and focussed service provision. In Zambia the group invoked a shift in the work culture which was supported by an investment in human capital and the realignment of jobs.
The new business segments introduced included the provision of complex solutions requiring bespoke capabilities and task acquisition and upskilling. Part of the changes implements in Zambia included segment and product realignment in line with the changing consumer needs.
Liquid also undertook to reorganise its sales structure through the introduction of new sales structures and also updating and aligning commission structures.
Liquid cloud and cyber security revenue for the period soared by 195% year on year in Zambia in turn increasing its contribution to total revenue for the unit to 10% from 6% in the prior year. The company won a public sector contract in Zambia which significantly pushed its revenue from the segment up.
Liquid’s customer for these services include large corporates, government and players in the hospitality sector, with solutions ranging from cyber security, cyber defence, secure access and secure data. Cloud solutions include a comprehensive suite of Microsoft products. The revenue line contributed 11% to total group revenues.
Liquid networks remains the largest contributor to revenue at 71% of total and its services include fibre, IP transit and 2G up to 4G connectivity. The group posted US$600 in revenue for the 12 months period.
Liquid Intelligent Technologies is a technology and digital solutions provider across 20 countries primarily in Eastern, Southern and South Africa that serves carrier, enterprise and retail customers with high-speed, reliable connectivity and digital services. It has built Africa’s largest independent fibre network of 104,000 kms.
-Equity Axis News
