Haiti - Economy : The crisis brings down the profits of DIGICEL - HaitiLibre.com : Haiti news 7/7

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Haiti - Economy : The crisis brings down the profits of DIGICEL
15/11/2022 09:31:27

Haiti - Economy : The crisis brings down the profits of DIGICEL
Digicel said it expects its adjusted earnings before interest, tax, depreciation and amortization (EBITDA) in Haiti to fall between $25 million and $35 million for the second half of its fiscal year ending late March, from $74 million a year earlier.

Haiti, one of Digicel's largest markets for mobile subscribers, has been facing a massive security and humanitarian crisis since September https://www.haitilibre.com/en/news-37702-haiti-flash-barbecue-blocks-the-varreux-terminal-and-defeats-the-pm-video.html , when armed gangs blocked the main fuel terminal in the country. A subsequent fuel supply disruption forced businesses and hospitals to close just as a cholera outbreak broke out, leading to public unrest, violence and reduced economic activity.

The Haitian police managed to regain control of the terminal on November 3 https://www.haitilibre.com/en/news-38048-haiti-flash-end-of-the-blockade-of-the-oil-terminal-victory-of-the-pnh-the-g9-derouted.html and fuel is available again at gas stations since November 12 https://www.haitilibre.com/en/news-38089-haiti-varreux-resumption-of-fuel-delivery-important-details.html

"In addition to the very regrettable community and societal impacts, ongoing disruption to the country’s daily operations and particularly fuel supplies has had a substantial impact on economic activity and Digicel’s operations in Haiti, which depend on fuel to operate much of its network," explained the telephone company.

"Digicel is working hard to ensure that key sites in terms of traffic and population coverage are operating as effectively as possible, though as much as 50 per cent of its national telecommunications network is experiencing disruption at any given time."

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