Ownership - South Africa - East Africa - Fiber Optic Cable

connecting africa to the world


Illustration

The ownership structure varies for each segment of the cable ensuring local ownership of the cable segments connecting individual countries to comply with regulations in those countries.
open access to africa
The diagram shows that the cable backbone along the east coast of Africa and to India and Europe is owned by SEACOM. The segments connecting to individual countries are either 100% (South Africa, Mozambique, India, France) or 35% (Tanzania, Kenya) locally owned. SEACOM has procured fibre capacity from Marseilles to London as part of the SEACOM network.

SEACOM is a Mauritian company owned 76.56% by African investors as a collaboration between East and Southern Africans and owns 100% of the SEA International Cable. A small group of Investors with proven access to both debt and equity, were selected specifically because they were not national telecommunications operators, thus avoiding value chain interference by to separating the ownership of the asset from its use.

76.56%
Africa

Industrial Promotion Services - 26.56%
Venfin - 25%
Shanduka - 12.5%
Convergence Partners - 12.5%

Financial Investors
Brings capital,
Brings Eastern and Southern African relationships
 
  
23.44%
International

Herakles Telecom - 23.44%
 
 
 


Brings promoter
Brings project development, venture capital and management expertise
 
 
About The Aga Khan Fund for Economic Development's Industrial Promotion Services

The Aga Khan Fund for Economic Development (AKFED) is an international development agency dedicated to promoting entrepreneurship and building economically sound enterprises in the developing world. AKFED focuses on building enterprises in parts of the world that lack sufficient foreign direct investment. It also makes bold but calculated investments in situations that are fragile and complex.

AKFED operates as a network of affiliates with more than 90 separate project companies employing over 30,000 people, with annual revenues in excess of US$1.5 billion. The Fund is active in 16 countries in the developing world: Afghanistan, Bangladesh, Burkina Faso, the Democratic Republic of the Congo, India, Ivory Coast, Kenya, Kyrgyz Republic, Mali, Mozambique, Pakistan, Senegal, Syria, Tajikistan, Tanzania and Uganda.

The Aga Khan Fund for Economic Development works with governments, international corporations, international financial institutions and donors to create solutions to pressing infrastructure needs, including power generation and telecommunications. AKFED has invested in, and manages, over 50 industrial project companies in Africa and Asia. .

In the early 1960s, a group of companies was set up under the corporate name Industrial Promotion Services (IPS). Each company was created to provide venture capital, technical assistance and management support to encourage and expand private enterprise in countries of sub-Saharan Africa and South Asia. Today, IPS companies play a vital role in local and regional economies.

About VenFin Limited

VenFin is an active private equity and venture capital investor focusing on high growth investment opportunities. The company has assets in excess $1.1 billion spanning the telecommunications, software, energy and media sectors. The company also has selected fund and direct investments in China.

Prior to 1 January 2006, VenFin was listed on the Johannesburg Stock Exchange with its largest investment being a 15% stake in Vodacom (Pty) Ltd, South Africa's largest mobile network operator. VenFin was a founding shareholder in Vodacom. The group subsequently disposed of the Vodacom investment to Vodafone Plc, and delisted from the JSE. More recently, VenFin disposed of its 25% stake in Alexander Forbes, a leading insurance broker and financial services company, for just under $300 million. The company is actively making new investments across a number of sectors, including media, technology and renewable and alternate energy sectors.

VenFin is part of a family of companies, JSE listed Remgro Limited (www.remgro.co.za) and Swiss based Richemont (www.richemont.com).

About Herakles Telecom

Herakles Telecom is an international development group based in New York City. The management of Herakles Telecom has decades of experience in the development of international infrastructure, including more than $4 billion dollars of infrastructure investment in Africa. The Herakles Telecom experience includes a full spectrum of development expertise including project development, project finance, technical expertise and project controls.

About Convergence Partners

Convergence Partners is a Black Economic Empowerment (BEE) investment company focusing on the Telecommunications, Media and Technology (TMT) sector. Convergence Partners' investment philosophy is to take meaningful equity stakes in quality companies within its chosen sectors, and act as both a strategic, value-adding active investor as well as BEE partner.

Convergence Partners' primary strategy is to partner businesses where it believes that it can make a meaningful contribution to strategic development and growth to the benefit of all shareholders over the medium to long-term.

There is a significant investment focus on projects that will improve general access of African corporates and individuals to communications, broadband services and new technology offerings that can improve lives, and a number of projects fitting this philosophy have been initiated by Convergence Partners and are being actively worked on.

About Shanduka Group

Shanduka Group is a leading African investment company that adds value to its investments and makes a difference. The company's main investment activities are in Resources, Financial Services, Property, Energy and Industrial & General.

As a black owned and managed company operating in a transforming South Africa, Shanduka is proud to be doing business and contributing to the transformation of the economy and society during a period of great and positive change on the African continent.

Shanduka Group's investment philosophy is to partner with companies in which we can play a meaningful role in maximizing growth and profitability.

The company's Corporate Social Investment activities are conducted through the Shanduka Foundation, a vehicle for transformation and empowerment dedicated to the education and development of business skills amongst the previously disadvantaged community.




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Ownership - South Africa - East Africa - Fiber Optic Cable