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This quarter, BCE, Rogers, and Telus collectively reported their lowest wireless subscriber growth in four years
Canada’s crackdown on immigration is hamstringing growth for the nation’s telcos, according to a report in The Toronto Star.
The latest financial reports from all three of the country’s national mobile network operators – BCE, Telus, and Rogers – show a significant drop in subscriber growth this quarter, which they attribute to the government’s immigration policies.
Collectively, the three telcos added just 54,000 net mobile subscribers over the past quarter, the lowest amount since the coronavirus pandemic.
For the past four years, these telcos have typically enjoyed six-figure subscriber growth, buoyed by a steady stream of foreign students and temporary workers entering the country.
By last year, however, it was becoming apparent that this level of immigration – around half a million newcomers annually – was putting a major strain on both the country’s healthcare and housing systems.
As a result, the government has introduced a host of new immigration policies, aimed at both slowing the number of permanent residents and foreign students. In 2025, the country aims to welcome 395,000 permanent residents, 305,900 students, and 367,750 temporary workers, down 21%, 10%, and 16%, respectively, compared to 2024.
While this deceleration in growth was to be expected, it will nonetheless come as a painful blow to the operators, particularly BCE and Rogers which are feeling the pressure of mountains of debt and falling revenues.
Both companies stock prices have fallen to levels not seen for over a decade, with BCE even deciding to slash its dividend by 56%, reducing it for the first time since 2009.
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