In the face of rising oil prices that could come with huge spikes in energy costs, and with the ongoing rise in the cost of goods due to the COVID-19 pandemic, Bahamas Telecommunications Company (BTC) Chief Executive Officer André Foster said the company is looking at ways it can become more efficient and stem costs, adding that they have done a “fairly good job” at not passing rising costs on to customers.
Foster, who has been the CEO of the company for one year now, said BTC is already using solar technology at tower sites in order to decrease costs. He said the company is hoping to expand the solar technology to more tower sites.
“Our business is obviously a big consumer of power,” said Foster. “We have launched and shared with the media previously some of the sites that we have running on solar power. We have one site here now on New Providence, one of our tower sites for which the primary source of power is solar energy and we seek to expand that footprint throughout the archipelago. We have really good success in various sites using that as a primary source.”
Foster explained that after Hurricane Dorian, solar-powered tower sites were set up on Abaco and some of its cays. He said 2022 could be a tumultuous year, given the continuing pandemic and now the war in Ukraine. He said while the start of the year is typically slow for sales, the conflict between Russia and Ukraine could lead consumers to hold on to their pocketbooks a little tighter.
“People are spending a bit less now,” Foster said. “That’s not unusual going into a new year, but I think the crisis in Europe has got people thinking twice about how they spend their money. We know they’re in the pinch and that’s why we point to our value propositions as a way to save money through these trying times. We really feel that we’ve done an amazing job reforming our value propositions to make sure that customers can stay connected, get better performance and get better value from the leading, premier telecommunications company in The Bahamas.”
He added that the company also continues to push its philanthropic initiatives in order to give back to the community.
“BTC has done a really great job from the perspective of growing its revenue, but certainly being able to provide a lot of philanthropic type of initiatives, food give backs, things we do to clean the environment, volunteers, our donations to various causes. It’s one of the most recognized brands in The Bahamas; my aspiration is for it to become one of the most loved brands in The Bahamas.
“We want our customers to feel the love we have for them, for our community, certainly for our shareholders. We want to continue to be great stewards in The Bahamas and really help to lead The Bahamas to the next evolution of telecommunications.”