NASSAU, BAHAMAS – Cable Bahamas Group is marking its “most significant achievement” this year with the continued rollout of its ALIVFibr fibre-to-the-home service, which has now reached 88,000 homes, with $70 million of its planned $85 million investment already spent.
Franklyn Butler, CEO & President of Cable Bahamas Group, commented on the group’s performance for 2024, highlighting total revenue of B$242 million, representing a 5% growth over the previous year.
“This growth is attributed to increased demand for mobile services across both consumer and corporate sectors, as well as strong expansion in the fixed corporate business. Despite heightened competition, Cable Bahamas continues to hold a solid market position in the fixed consumer business and saw meaningful growth in international inbound roaming through its partnership with Digicel. The company’s EBITDA for the year totaled B$91 million, marking a 5% improvement over the prior year, underscoring our profitability and effective cost-control measures,” Butler said.
He further emphasized the importance of ALIVFibr as the company’s most significant accomplishment. “ALIVFibr represents the future of connectivity in The Bahamas, providing the fastest internet speeds and unmatched reliability for Bahamian homes. By the end of fiscal year 2024, we passed 88,000 homes and connected 10,000 homes here in New Providence. This represents a cumulative investment of $70 million of our planned $85 million—a major milestone for us.”
According to the company’s annual report, fixed broadband revenue grew by 2 percent to $131 million, driven by increased demand for high-speed internet and the expansion of the fibre-to-the-home network on New Providence, with more than 10,000 customers now using the upgraded service.
However, TV services revenue declined by 7.3 percent to $37 million, compared to $40 million in the previous year, largely due to the ongoing trend of cord-cutting as more consumers shift to streaming platforms.
On the mobile side, services revenue increased by 9 percent to $109 million, driven by growth in prepaid subscribers. Total consumer mobile subscribers reached 165,000, with prepaid customers growing by 4 percent, giving the company a 54 percent market share, thanks to targeted promotional campaigns and device bundling offers.
