The SEACOM cable project offers international fibre optic bandwidth to Southern and Eastern Africa, linking the region with Europe and Southern Asia. The cable will cover more than 15,000km and will pass from South Africa along the Eastern Coast of Africa, linking Mozambique, Madagascar, Tanzania, and Kenya, before landing in Mumbai and Marseille.
SEACOM aims to enhance the African economy by bringing it into the digital age. The cable will have a capacity of 1.2 terabits per second to meet the surging internet demand in the region.
Closure of financing for the SEACOM undersea fibre optic cable was reached in November 2007. The project is 77% African-owned, with the investors being Kenya-based Industrial Promotion Services, Herakles Telecom, and South African investors VenFin Limited, Convergence Partners and the Shanduka Group.
Debt funding is being provided by Nedbank Capital and Investec. The estimated cost of the cable is $650 million.
Operis was engaged to provide financial model due diligence on behalf of SEACOM’s shareholders.