DITO Telecommunity, the third-telco in the Philippines, announced that it’s spending over Php50 billion this 2022 to meet its commitment to the government to cover 70% of the population.
As per Adel Tamano, DITO’s chief administrative officer, their 2022 capex is already “fully funded.” He also said that they have negotiated USD4 billion (around Php204 billion) long-term loans with foreign banks to assists its network expansions in years to come.
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Since its commercial debut in March 2021, DITO’s network now covers about 65% of the country’s population.
With a Php50 billion budget for 2022, the company aims to meet its commitment to the government as it targets to cover 70% of the population by July 8. Since the gap is only 5%, the company is confident that they will achieve the target, and possibly even earlier, says Rodolfo Santiago, DITO’s chief technology officer.
To achieve the target, 300 additional DITO towers need to be put up. Currently, there are already 4,500 up and running. As of writing, DITO’s mobile services are now available in tons of locations across the country.
This update comes after its parent company, DITO CME, canceled its Php8 billion stock rights offering after it received an underwhelming reception from investors.
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