Africa´s investments in undersea cable hit US$1.4 billion

Today in manufacturing news we feature a press release about the continued investment by Africa in it’s undersea cable.  For full press details please read on: Africa´s investments in undersea cable hit US$1.4 billion

Investments by African firms in undersea telecoms transmission cables have reached a total just over $1.4 billion.The new figure was reached following the announcement by a Nigerian firm, Mainstreet Technologies, that it would build its own undersea cable at a cost of $300 million.The project is conceived as a rival to SAT-3, a transatlantic transmission system sponsored mainly by telecoms firms led by Telkom of South Africa. The latest project, called MaIN OnE, is coming on the heels of four others, namely Glo-1, which is estimated to cost $150mn; the East African Submarine System, $200mn; and the East African Marine System, $150mn. However, the $600 million investment in the SAT-3 fiber optic cable that runs from Portugal to South Africa, and moves out across the Indian Ocean to Asia, is still the highest so far in the continent.