In 2019, Seacom conducted a study on the market potential for fiber optic services in Tanzania, Uganda, Kenya, and Rwanda, with funding from the United States Trade and Development Agency (USTDA).
The digital infrastructure and IT services company, Seacom, is set to begin expanding its operations in West and East Africa, Alpheus Mangale, the company's CEO, revealed in a recent interview with Business Day.
Through this initiative, the company is seeking to extend its footprint across Sub-Saharan Africa amid an accelerating digital transformation and an ever-increasing demand for high-speed connectivity and digital services. To implement this strategy, the company says it needs around $563 million but has already secured a $207 million loan from the International Finance Corporation (IFC) in June 2023.
Seacom based its expansion plan on acquisitions. In October 2021, the company acquired the network of Kenyan fiber optic operator Hirani Telecom. In February 2022, it also purchased infrastructure from the telecom operator Africell in Uganda, including 760 kilometers of fiber optic cable and a data center. In April 2022, Seacom invested 144.9 million South African Rand (about $7.7 million) to acquire Network Solutions and Hymax subsidiaries from the South African telecom solutions provider EOH.
According to the IFC, Seacom's expansion into Sub-Saharan Africa is expected to support the digital transformation of 24,000 businesses in the region by 2027. This initiative will also help increase access to the internet and cloud and cybersecurity services. Moreover, the company aims to boost its revenue by capitalizing on the expected surge in demand for high-speed connectivity, among other services. The Global System for Mobile Communications Association (GSMA) estimates that the number of mobile internet users in the region will increase from 287 million in 2022 to 438 million by 2030.
From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...
• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...
Airtel Gabon, Moov sign deal to share telecom infrastructure Agreement aims to cut costs, boo...
Vision Invest invests $700m in Arise IIP, Africa’s largest private infrastructure deal in 202...
Even though it remains the smallest "crypto-economy" in the world, sub-Saharan Africa shows that vir...
• Nigeria has suspended the implementation of a 4% tax on the Free Government halts 4% import duty after backlash from businesses and importers.• Tax was...
• Parliament approves constitutional changes extending the presidential term to 7 years.• Reform also creates a vice–prime minister post and lengthens...
• Morocco targets 200,000 tons of olive oil in 2025, up from 90,000 tons in 2024.• Better weather conditions expected to push olive harvests to 2 million...
• Eco Atlantic Oil & Gas shifts focus to deepwater licenses in Namibia’s Orange Basin.• The company sells its 85% stake in PEL 98 to local operator Lamda...
Surprisingly, only one African song made it onto Rolling Stone's list of the 500 Greatest Songs of All Time. The track is "Essence," a collaboration...
The Umhlanga Festival, also known as the “Reed Dance,” is one of the most iconic cultural events in the Kingdom of Eswatini in Southern Africa. Every...