DITO Telecommunity parent company, DITO CME, is lowering its planned capital expenditures (capex) in 2023 by 46%.
From the Php50 billion budget it spent on network building in 2022, for 2023, its capex for this year will only be at Php27 billion. The said money will still be used in building up their network and to fund their “commitments to the government.”
Although 46% lower compared to last year’s, DITO said that the projected capex budget is still within the spending range that the company committed to the government when they were granted the franchise to be the third telco in the Philippines.
As of writing, DITO already spent Php150 billion for its initial rollout, which helped build its infrastructure and fund its operating expenses. That’s part of its commitment to invest Php257 billion over a five-year period with the ultimate goal of reaching 55mbps of internet speed which covers 84% of the population.
DITO chief administrative office Adel Tamano also said that their subscriber base is now more than 14 billion, which is higher than their 2022 target of only 12 million. Tamano added that they aim to double that number by 2023.
Meanwhile, their population coverage is now at 74%.
Via: Manila Standard