Belize Telemedia - now called Digi - has completed one of its most ambitious projects which started back in 2017. That's the national rollout of a fiber topic network for high speed broadband. It was completed in April when Diginet reached Toledo. That means that the company's high speed fiber optic broadband internet service has now reached every corner of the country and has essentially replaced the old copper network.
But, it didn't come cheap; it cost 96 million dollars. Still, the company's executives say this fiber optic backbone now positions the telecoms company to be "future-proof". What's more, they say that consumers have shown surprising appetite for the service. Here's more from a press conference held last night at BTL's flagship store in downtown Belize City.
Ivan Tesecum, Chief Financial Officer
"Certainly it is one of the greatest achievements that we are going to mark in our company's history; that is the countrywide rollout of Diginet. Yes, as Justino rightly said North to East, South, West - wherever you want to go we have Diginet in Belize. This project Diginet transformed our company. It has successfully challenge and change the way we do business, but most importantly it has have a positive impact on our customers."
"Presently in the country of Belize we have over 20,000 customers connected to Diginet. Yes, as Justino mentioned we have to offer up to 500 megs and guess what, that's not the end. We can offer much more."
Anaceli Perdomo, GM - Service Operations
"The buildout of our new technologically advanced network commenced in 2017 with the successful deployment of Digi strategic evolution underwater link, an underwater fibre optic cable that kinks San Pedro to Belize and in a matter of months, the rest of the world. This paid for a successful launched of Diginet in San Pedro. The ambitious target of our countrywide rollout to connect over 33,000 homes by March 2020 was set."
Ivan Tesecum, Chief Financial Officer
"We went 5000, 10,000, 15,000, 20,000 and counting and therefore overall we know that shows that our customers and the citizenry of the country of Belize are very eager to have that service. We have surpassed the number of connections that we had on the copper network and that even before. We are now fully launched in terms of everywhere that we've connected. That's an important metric for us. As we said we now have over 20,000 homes that have been connected to this network. That is really impressive and we are still connecting homes as we speak. We are still promoting in areas and we are still moving throughout. For example, in PG where we just launched. The move continues and we continue on a very high uptake rate. The way we see it and the way we are getting customers is something that every home is going to have it pretty soon."
Reporter
"Are you able to say which market has been the most surprising in terms of its appetite for an interest in high speed internet?"
Ivan Tesecum, Chief Financial Officer
"One of the areas that we saw something that it would have been Belize City, especially as it relates to the Southside, because unfortunately just to the way how the project was rolled out, we went going up north first and then coming over to the Southside of Belize City. But there was a great uptake and demand and appetite for that on the Southside of Belize City."
As for the 96 million dollar loan, BTL expects to pay it back in under the 7 years provided for in the loan agreement. Reports say the company has connected 40% of homes which the fiber network passes - which is considered high.
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