DigiTel Networks, the company created to develop and operate the first private sector telephony network to compete with the Bahamas telecommunications Company (BTC), yesterday said it expected to achieve 54 per cent population coverage 10 months ahead of the terms set out in its license, as its parent firm seeks to raise $8 million through a private placement offering that will help fund infrastructure construction.
In an exclusive interview with The Tribune, Paul Hutton-Ashkenny, president of DigiTel’s parent, the Systems Resource Group (SGR), said the license awarded to his company to provide carrier class voice telephony and data services via a wireless network to the three most populated Bahamian islands would provide business and residential telecoms users with “improved customer service, new and innovative technology and competitive pricing”.
He added that DigiTel planned to “get to the point where we will be able to offer the corporate market a one-stop shop” for all their telecommunication needs, such as mobile voice telephony and data services, and broadband internet connectivity, coupled with the telecoms networks and equipment to operate them.
Mr. Hutton-Ashkenny said that financial services looking to establish an operation in the Bahamas would be able to contact DigiTel, and the company could take care of all its telecoms needs under the terms of its livense, including the provision of systems connecting the bank with its global head office.
To construct its $12 million MMDS wireless telecommunications infrastructure, which will deliver the high speed telephony and Internet services, SRG is seeking to raise $8 million from a private offering to high net worth and institutional investors, with a further $4 million set to come from bank debt. A presentation to potential investors was held last night at the Buena Vista restaurant. Some $2 million has already been invested in the company.
By Neil Hartnell, The Tribune
