The Bahamas Telecommunications Company (BTC) is targeting a 50 percent penetration of its fiber network on New Providence in 2021, the company’s Chief Executive Officer Garry Sinclair told Guardian Business on Tuesday, adding that the company now has the budget for the expansion.
Sinclair said the company currently has 35 to 40 percent penetration on the island, having recently finished running fiber to parts of Carmichael Road.
He said BTC is targeting about 4,500 homes in the new year, to add to the almost 30,000 homes its fiber has been fed to.
“We have secured the budget,” said Sinclair. “We’re part of a group of operators and we compete for capital. And when capital is invested, then we have to sell it.
“Right now we’re about between 35 and 40 percent penetrated in our fiber to the home footprint. The plan next year is to get to 50 percent penetrated on what will be an expanded footprint. You proceed in that manner, you get the capex (capital expenditure) you need to continue to build and that’s the path we’re on. I think it’s going to be a pretty successful path.”
He told this paper that the BTC has hit and in some cases, exceeded all of its revenue targets in the company’s 2020 budget, which was adjusted as a result of the COVID-19 pandemic.
He said BTC has done better than it thought it would have in the midst of the pandemic, adding that the company expects to hit financial targets set for 2021 as well, as the company eyes improved cash flow in both 2020 and next year.