PNG Dataco Pays a K3 million dividend to the State

PNG Dataco has paid a dividend of K3 million to the State through its Shareholder Kumul Consolidated Holdings.

This was the first ever dividend paid since its establishment in 2014 as a State Owned Entity.

State Owned Enterprise Minister, William Duma witnessed the ceremony recently.

Over 8-years since its establishment as a wholesaler of telecommunications, DataCo has invested over K1.2 Billion in building Modern infrastructure as part of the National Transmission Network.

Chairman of PNG DataCo, Dr. Thomas Webser says they are required to ensure these ongoing investments in the communal digital infrastructure to provide affordable services to our people.

Minister Duma noted that PNG DataCo was established with a responsibility to build National Transmission Network

.

Eight years later, the telecommunication wholesaler has invested millions of kina in building digital infrastructures such as the international Coral Sea terminal, Kumul Submarine network and nearly 2000 kilometres of terrestrial network up in the Highlands.

Minister Duma says what transpired was a wise decision by the Government to unbundle telecom and a commendable effect by the Board and Management of Dataco. 

Meanwhile, Dataco currently provides wholesale transmission and broadband Internet Services to PNG and International Telecommunication Operators, Telikom, Digicel, Vodafone, Internet Service Providers, Corporate Organizations and the Government under the CSO program.

NBC News /PNG Today

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