Swazi Observer

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ESCCOM RECORDS INCOME OF E134.4 MILLION

By NOKUNCEDA MAGAGULA | 2024-12-18

Eswatini Communications Commission (ESCCOM) has recorded an income of E134.4 million in the 2024 financial year.

According to ESCCOM financial statement of the year 2023/ 2024 which ended in March 31, 2024, other income received by the company were E13 million.
ESCCOM surplus of the year stood at E6.7 million

This shows a slight decline as in the previous year the company recorded E11.5 million.
Total assets for the year under review amounted to E563.8 million which is an increase from the E514.1 million held in the previous financial year.

The commission’s total equity and liabilities stood at E578.8 million under the period in review.
According to the auditors, SNG Grant Thornton, the financial statement report was in accordance with International Financial Reporting Standards applicable for Small Medium Enterprises (SMEs), and in the manner required by ESCCOM Act No.10 of 2013.

“We conducted our audit in accordance with International Standards on Auditing (ISAs),” said the auditors.

Adding that they were independent of the Commission in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants including International Independence Standards (IESBA Code) together with the ethical requirements that are relevant to audits of financial statements in Eswatini,” the auditors said.

ESCCOM is the regulatory authority for the information and communication technology sector in Eswatini.

The commission was established in 2013 by the Eswatini Communications Act, to license and regulate telecommunications, radio communications, broadcasting, and postal service s in Eswatini.

The commission plays a critical role in the management and development of Eswatini’s ICT sector.
Worth noting is that ESCCOM’s unwavering dedication to affordability has resulted in a remarkable 80 per cent reduction in data prices over the past five years.

During the Eswatini Revenue Services (ERS) Symposium ESCCOM Chief Executive Officer (CEO) Mvilawemphi Dlamini said this proactive approach had not only boosted consumer purchasing power but has also stimulated increased data consumption.

Dlamini emphasised the positive impact of lower prices on consumer behaviour, citing the increased data consumption as a result of affordability.

"When you reduce prices, people consume more. We've seen a remarkable shift, from a mere 250 Megabytes for E100 in 2018 to a generous 7 Gigabytes today," he explained.

However, the CEO acknowledged the challenges posed by affordability, particularly in a small country like Eswatini. He noted that the high cost of infrastructure, coupled with a relatively small population, limits the potential for drastic price reductions.

"Affordability is relative. We have a population of just over a million, whereas countries like Rwanda, with 12 million people, can spread the cost of infrastructure over a larger base. This makes it difficult to achieve the same pricing as larger markets," he said.

Despite these constraints, ESCCOM has actively supported the upgrade of networks from 2G to 4G, ensuring widespread 4G connectivity across the kingdom.

However, this technological advancement has led to a perceived issue of faster data depletion.
"The faster network speeds mean that data is consumed more quickly. It's like upgrading from a slow road to a highway. You'll reach your destination faster, but you'll also use more fuel," Dlamini explained.

To address this misconception, ESCCOM has urged network operators to undertake public education campaigns to clarify the reasons behind faster data usage.

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