Developing Telecoms | EASSy cable wins key global finance

21 May 2012

Networks

LATEST NEWS:

Internet-free mobile Facebook, email and online chat apps platform launches... Indian telco giant taking steps into Brazil Green power solutions provider spreads into South Asia Cable agreement to bolster international connectivity in Iraq Lat Am giant looks to Netherlands to boost European footprint CSP unifying mediation systems across four Central American countries Thai operator secures wireless distribution agreement Financial services project reaching out to millions of Africans Fibre investment on the way in Algeria Android tablets gaining popularity in Southeast Asia Bharti seeking JV takeover as profits slide How an Alternative Approach to SIM Card Provisioning Helps Operators Cure t... Solar-powered learning initiative takes off in Uganda GSMA voices criticism of Indian licensing proposals Enhanced mobile broadband deploying across three Baltic countries Market developments lay the foundation for future growth in Iraq India Feels More Shockwaves from the So-called ‘2G Scandal' Overpriced broadband faces fibre challenge in Angola First commercial 4G services go live in Croatia VimpelCom sells Vietnamese assets TRAI advocates new operators entering 2G auctions Romania’s first MVNE launching imminently Indian tax change could provoke legal action from Vodafone Mobile growth slows in Iran as penetration reaches saturation point Thailand close to finalising 3G auction process Internet Exchange Points Spur Internet Growth in Emerging Markets Incoming fibre boosts investment prospects for Burundi 3G on the way in Djibouti, but competition is required Fibre, not privatisation, could be the answer for Africa’s fixed-line opera... Saudi incumbent looks abroad amidst heated domestic competition Orascom serves Algerian government with arbitration notice Kenya’s mobile sector recovering from slump Download deal aims at attracting Indian Android users

EASSy cable wins key global finance

Wednesday, 26 July 2006 13:21 | Alec Barton

Attention: open in a new window.

Reflecting the more confident atmosphere surrounding negotiations over the future of the East African Submarine Cable System (EASSy), two key sources of finance have indicated that they will support this project.

Both the World Bank and its private sector arm, the International Finance Corporation (IFC) are to supply finance for a system which can revolutionise African telecoms (see previous EASSy reports on Developing Telecoms).

IFC officials have conducted far-reaching negotiations with stakeholders and share their fellow stake-holders' optimism that more international organisations will come up with plans to assist EASSy. While the structure of the project has been agreed on by the relevant governments, the New Partnership for Africa's e-Africa Commission, and various telecoms operators and financial institutions, financing the project has fallen to the World Bank and the IFC, along with French Development Bank (AfD), PROPARCO, the Development Bank of Southern Africa (DBSA) and KfW Entwicklungsbank (KFW). Cost of the financial support is estimated at US$300 million.

The movement towards consensus has accelerated since agreement on procedures was attained at a recent meeting in Nairobi . A joint task force representing each of the key stakeholder groups was created to maintain dialogue and channel governmental objectives into agreements covering both construction and maintenance and shareholders' interests.

* EASSy intends to connect over 20 coastal and land-locked countries in Eastern and Southern Africa: Burundi, Botswana, the Democratic Republic of the Congo, Republic of Congo, Djibouti, Eritrea, Ethiopia, Kenya, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Rwanda, Somalia, South Africa, Sudan, Swaziland, Tanzania, Uganda, Zambia and Zimbabwe. March 2008 is the deadline for services to commence.

Add this page to your favorite Social Bookmarking websites