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Digicel invests more than US$60M in Guyana

Dec 22, 2010 News

… monopoly has restricted investment, stymied revenue inflow – CEO

With a customer base exceeding more than 250,000 and investments in excess of US$60M Digicel Guyana now has coverage of some 95 per cent of the population, and according to the company’s Chief Executive Officer Gregory Dean, the company, “is truly the bigger, better network”
Dean was at the time speaking with media operatives at the company’s end-of-year press briefing where he detailed some of the successes of the company over the past year adding that they will be focusing on improving the quality of the company’s service.
He did say that while there was no big growth spurt this year for the customer base they have managed to maintain their market share in Guyana.
Speaking to the concerns being raised by some stakeholders recently as it relates to the proposed legislation along with regulations, Dean said that his company welcomes liberalisation of the industry.
He disclosed that the company has been given an opportunity to make their comments on the draft and have submitted their response, and are currently awaiting a response from the government
“We feel liberalisation is long overdue,” Dean emphasised.
While noting the benefits of liberalisation, the CEO said his company welcomes competing on a level playing field.
“We have always extolled competition…we think it forces us to be better. It’s a challenge for us and we would relish that challenge.”
Dean pointed out that there is liberalisation around the world, and as such he didn’t know why in Guyana it is being treated as revolutionary.”
“We don’t understand what’s all the fuss about…it is basic all around the world.”
He said that he would assume that all of the relevant stakeholders would have Guyana’s best interest at heart since “the benefits far outweigh the negatives.”
Dean said that while there are some aspects of the legislation that would provide some difficulty they have addressed the concerns and, “it is now to see how the government respond.”
As it relates to the concerns some may have, Dean suggested that regulations always evolve and they should just allow the market forces to dictate how things would be done until the various concerns are ironed out and introduced in a phased manner.
Dean said that to the best of his understanding there will be future public consultations which will form a part of the process in seeking to finalise what is currently at a draft stage.
“All stakeholders will be consulted,” Dean said, but did point out that he did not know the timeline with which the government will be consulting with the relevant entities.
Dean also lamented the fact that “the current monopoly has restricted the company from making more investments while at the same time it has stymied the growth of the company and blocked access to addition revenue inflow”.
The Guyana Telephone and Telegraph Company (GT&T) recently flayed the government over the proposed regulations and legislation. Chief Executive Officer of GT&T, Yog Mahadeo, recently said that they do not reflect the challenges of Guyana.

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