Sunday Mail Reporter
The coronavirus outbreak has had limited impact on Liquid Telecommunications Holdings, which has a unit in Zimbabwe, as its operations have not been restricted by the lockdown since it is considered an essential service, an international credit ratings agency has said.
In a statement, Moody’s Investors Service said the company, which provides services in 13 countries in Eastern, Central and Southern Africa, will be “one of the beneficiaries of the pandemic”.
“In the context of the coronavirus outbreak, the operational impact for Liquid Telecom has been limited as the company is considered an essential service by governments across Africa and its operations have not been restricted by the lockdowns.
“Moody’s expect Liquid Telecom’s services will be one of the few beneficiaries of the pandemic because of the increased use of connectivity and data consumption as businesses evolve remote working environments.”
The ratings agency also believes that the communications solutions provider’s diversification has enabled it to weather the headwinds of currency volatility particularly in Zimbabwe and retain its credit rating at B1.
Moody’s vice president-senior analyst (EMEA Corporate Finance Group based in Dubai) Dion Bate said there continues to be strong demand for the company’s services on the continent.