Bell Canada has made a significant move by selling Northwestel to a consortium of Indigenous communities from the Yukon, the Northwest Territories, and Nunavut called Sixty North Unity for up to $1 billion in cash. This transformative partnership marks a pivotal moment in economic reconciliation efforts in Canada.
With this acquisition, Sixty North Unity aims to establish Northwestel as the largest telecom company with full Indigenous ownership. The consortium plans to invest substantially in enhancing Northwestel's services, including doubling internet speeds to 1Gbps for fibre customers, expanding high-speed internet availability to meet regulatory goals, and implementing low-earth orbit (LEO) satellite technology. Additionally, Sixty North Unity has committed $4 million towards the Great Slave Lake Fibre Project to bolster connectivity in the Yellowknife capital and South Slave regions of the Northwest Territories.
Despite the change in ownership, Northwestel's leadership team will remain intact, with a focus on increasing Indigenous representation within the company. Bell Canada has expressed its intention to maintain a strategic partnership with Northwestel post-transaction, highlighting a commitment to continued collaboration.
This acquisition marks a significant step forward in advancing economic reconciliation in Canada's telecommunications sector. By empowering Indigenous communities through ownership and investment in critical infrastructure, Sixty North Unity and Northwestel are charting a new path towards greater inclusivity and prosperity in the industry.
