Beanfield looks to expand organically rather than through acquisitions, CEO says

Beanfield Technologies Inc. is bullish on the Canadian telecom market despite that market reaching a maturity that could stymie some players, the firm’s CEO says. Rizwan Jamal told The Wire Report in a lengthy interview that a slowdown in population growth and the construction of new homes makes the market challenging for companies. This is particularly true for the larger players, he believes. “Beanfield’s in a very fortunate position,” the executive says. “We are looking to invest and grow and really take advantage of some of the opportunities that exist in Canada.” The Toronto company concentrates its footprint in Vancouver, Toronto, Ottawa, and Montreal. Jamal expects expansion will be limited to those cities, especially in the suburbs. Three years ago, Beanfield grew by purchasing FibreStream, which operated in Toronto, Ottawa and Vancouver, and buying Vancouver’s Urbanfibre. Its buying days are in the past, the CEO asserted. “I’m not really focused on acquisitions. I’m focused on organic growth,” Jamal explained. “We have all the assets that we need. I’m not thinking of any acquisitions over the next five years.” Since its founding in 1988, Beanfield has been active in connecting people in its market areas. It set up shop in the Liberty Village section of Toronto. Growth was immediate in the neighbourhood, as the larger telecoms wouldn’t provide connectivity due to market concerns. Businesses in the area latched on to the newcomer for their internet service. Jamal characterizes his customers as fans of the company. He maintains attention to service is the reason for that. The Commission for Complaints on Telecom-television Services (CCTS) bears him out. In its most recent mid-year report, Beanfield placed 55th on the list of complaints with a mere five filings to the commission. “We don’t outsource any of our customer service,” he notes. “We do it all in-house ourselves. It’s all done by Canadians, local people in our community.” Jamal graduated from the University of Waterloo with a degree in engineering. He has worked in the telecommunications sector for more than three decades. He has experience with both large and small players. He started out in the telecom, media, and technology practice of consulting firm Deloitte Group. One of his clients was wireless carrier Clearnet Communications. It later hired him. When Telus Corp. purchased Clearnet, Jamal transferred to the western incumbent. He was deputized by Telus’ then-CEO George Cope to integrate the two companies. “I learned so much,” he reports. “That was when I really got to learn everything about a telecom company.” He spent 11 years at Clearnet and Telus and then departed for a dozen years at BCE Inc., at one point becoming president of residential services and small businesses. From there it was on to regional carrier Xplore Inc., where he served as CEO. After a year in the executive suite, he was headhunted by Beanfield to take the top spot. Jamal was familiar with the Toronto company, having followed Beanfield since his Bell days. He took the job after much deliberation. “I’m sad I left so soon in that journey because I had really grand plans, but sometimes you can’t decide when an opportunity comes up,” he offers. Still, he finds the new assignment rewarding. “It’s been a tremendous ride since I joined in July of last year,” he says. “It’s a great team that is here.” Xplore primarily provides service to a rural audience; Beanfield is an urban carrier. Jamal notes the differences between working for such companies. “I would say the biggest difference is the competition,” he opines. “In many of the footprints and territories Xplore focused on, there wasn’t a lot of competition. I think Xplore was either the only choice for many people or maybe there was one other choice.” Beanfield, by contrast, is up against many competitors, large and small. One issue that continues to roil the telecom industry is the question of wholesale access. The CRTC is allowing incumbents to purchase third-party internet access in their non-incumbent territory. Telus is in favour of the regime; the other major players oppose it. Cogeco Inc. and Bragg Communications Inc. (Eastlink) are currently appealing the government’s ruling on access. Jamal is flummoxed by the commission ruling, which was upheld by cabinet. “It is just surprising to me that the government believes that a company like Telus needs to basically ride on someone else’s fibre network outside of their incumbent territory,” he states. “We don’t have an incumbent territory and we’re certainly building in some of the biggest cities across Canada.” The CEO maintains that wholesale access is not the solution to the competition problem. The answer lies in facilities-based competition, he argues. ppark@thewirereport.ca

Beanfield looks to expand organically rather than through acquisitions, CEO says

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By Paul Park
|October 28, 2025

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