When an Irish wealthy person Denis O’Brien set out to build a cell phone company within the western hemisphere’s poorest country, there was no shortage of iconoclasts. After Six years O’Brien’s company Digicel became the largest business house in Haiti and has 4.8 million users. It is a rare sign of entrepreneurship in an exceedingly troubled country that is still recovering from the 2010 earthquake. O’Brien’s great plans for Digicel are a part of his optimistic vision for Haiti. Showcasing of local entrepreneurship is rare in Haiti.
The Digicel cluster is a privately-held company based by O’Brien in 2001 and headquartered in Jamaica, with thirteen million customers in thirty one rising markets, largely within the Caribbean and Pacific regions.
O’Brien holds ninety four percent of Digicel shares and made it to the Forbes’ billionaires list last year with an internet price of $5 billion. He models himself on British wealthy person Mo Ibrahim, founding father of Celtel, and Africa-wide cell phone network, and India-based Sunil Mittal, founding father of Bharti Airtel. Digicel is currently waiting to enter Union of Burma, with solely three percent of the population owning a phone in 2011, in line with the globe Bank.
According to Digicel’s report it had revenue of $2.5 billion within the year to March 2012, with Haiti leading the approach, generating $439 million.
The Digicel Company’s arrival in Haiti in 2006 was a rare example of foreign investment in a country like Haiti, which is accustomed to dependence on economic help handouts. Digicel’s headquarters was inaugurated a year before the 2010 quake and was one amongst the few massive buildings to resist it just about intact. To prove his purpose, Digicel has captive its call centre for the communicatory Caribbean from affluent Martinique to Haiti.
O’Brien’s next goal is launching a Smartphone revolution in Haiti and giving mobile banking to the poor. Digicel needs finance in further information measure this year to handle a 4G network upgrade as well as raising its total investment in Haiti to near about $600 million
Market of Digicel depends a lot on Asian companies like Samsung to continue to lower costs due to low cost Taiwanese semi-conductors. Indeed, Digicel is Haiti’s largest payer. The Digicel Foundation has engineered eighty seven colleges to this point, at a mean value of around $180,000.