“Network congestion has become the norm this year, but there have been no network outages. Although many people and strategic sectors have struggled because they were not prepared for a crisis like Covid-19, telecoms companies have benefitted strongly. Nonetheless, the longer the lockdowns persist, the greater the impact on consumers’ propensity to spend money and therefore purchase network credit. The third quarter saw growth begin to flatline, and tighter margins are on the horizon, even for the largest companies.”