Botswana Telecommunications Corporation Limited (BTC) has confirmed its intention to explore growth opportunities within the broadband space.

Anthony Masunga, BTC Managing Director said broadband penetration levels are still low, while the demand for data services on the increase.

"We expect positive results from our 4G service, which we introduced in most urban and peri-urban areas around the country," said Masunga sharing the company's half year results for the period ended 30 September 2017.

Masunga remains unfased by competition within the telecommunications sector, attributed to new players entering the market at different levels of the telco value chain on the backdrop of the new licensing framework.

"These developments however also present partnership opportunities," said Masunga.

He said the intense competition has put pressure on the mobile market which is experiencing high churn rates and margin squeeze.

Over the six months period under review BTC made investments in new systems, infrastructure modernisation and expansion amounting to P124m, financed internally.

"As a company, we will continue with our transformation journey, with a focus on network, commercial and cultural transformation," said Masunga, noting that the company's cost of sales declined by 11%, leading to an increase in gross profit of 11%.

The current interim financial statements indicate that liquidity remains strong with zero gearing, as cash balances were at P487m, sufficient to finance the operations and capital expenditure programme of the company in the remaining half of the year.