The Guyana Telephone and Telegraph Company (GTT) has suffered some $50 million in losses in the past 15 months due to vandalisation of its cables throughout the country.According to the company, the loss amounted to $36 million in 2014, and up to March of this year, the reported loss due to damage by vandals was tallied at $14 million. During the past 15 months, GTT was able to apprehend 12 persons, several of whom were placed before the court.
Acting GTT Chief Executive Officer (CEO) Justin Nedd said the cables were vandalised for the copper they contained. The price for copper is currently at an all-time low because of less demand in China, and according to Nedd, this happens to be a good thing for the company as there has been a reduction in theft. He said the company has been make efforts to address the problem.
“Notwithstanding, we have had discussions with the government to help us to prosecute the perpetrators of copper theft. It is something we have been dealing with, it is extremely expensive since there is not only a cost to replace the infrastructure but it is expensive as a matter of productivity to customer. It is a problem that we are acutely aware off but not all the variables are within our control,” he said.
Nedd lamented that aside from the dollar figure to the loss, every time a technician goes out to fix the damaged cable, it is an opportunity cost as the technician could have been installing a service for a customer. GTT recently announced the rebranding of the company with focus on “doing more” including ensuring faster Internet speeds and improved customer services.
GTT has a base of over 400,000 subscribers and is the only company in Guyana that provides landline, mobile, Internet and wire line services, but it has not changed its brand and logo over the past 24 years.
“We now want to change how we approach our customer. We thought it fit that we start a new era, start with a new brand and start with a new mantra of doing more,” Nedd had told reporters at a press briefing to announce the rebranding.