Seacom had been negotiating IFC financial support since May 2021 as part of its expansion in Africa. The total cost of the project is estimated at approximately 563 million USD. The International Finance Corporation (IFC), a branch of the World Bank focused on financing the private sector in emerging countries, announced on Thursday June 22 that...
Telecoms provider SEACOM confirmed this week it has suffered a cyber security incident, which it says impacted a ‘small number’ of customers. In a statement, SEACOM says in response to the occurrence, the company’s IT and security teams immediately implemented business continuity plan. “The situation was contained timeously, and any developments are closely monitored,” says...
SEACOM, Africa’s telecommunications and managed services provider, announced that Alpheus Mangale, is joining SEACOM as incoming Group Chief Executive Officer. He is a seasoned business supplier with over 25 years’ experience across the enterprise, telecoms, financial services and technology markets across Europe, the Middle East, and Africa. He will work alongside the company’s outgoing Group...
Seacom has launched services on the Google-owned Equiano undersea cable, promising private lines with latencies of 110 milliseconds between South Africa and Europe. The company says this is the fastest direct route between the continents. Seacom was the first independent undersea cable to connect South Africa to Europe, with landings along the East coast of...
Oliver Fortuin, Group CEO of Seacom, has resigned from his position, the company announced today. According to a statement from the telecommunications and managed services provider Fortuin will continue to serve in his position until June this year, during which time he will continue to support the Seacom board and also participate in the process...
SEACOM says it is working on a multi-country acquisition the details of which it will announce in 2023, and while it cannot provide detail, it says the strategy will see it transform into a fully-fledged pan-African provider. The company recently hosted an event – Evolve – in Kenya, during which it shared some information about...
Internet connectivity supplier Seacom and British Telecommunications (BT) have entered into an alliance to deliver new networking, security and communications solutions to enterprise customers in Africa. According to a statement released by the companies, Seacom will leverage BT’s services, vendor relationships and global expertise to expand its services portfolio targeting African businesses. The partners refer...
Broadband connectivity continues to grow in Africa. Seacom, which aims to extend its geographical coverage to all of Africa, is increasing its investments to this effect. The fiber optic telecommunications service provider Seacom is negotiating financing for a maximum amount of $260 million with the International Finance Corporation (IFC), a branch of the World Bank focused...
Seacom has confirmed its intention to acquire EOH Network Solutions (EOH-NS) and Hymax, divisions of iOCO and part of EOH Holdings Limited (EOH), at an enterprise value in transaction of R144.9-million. According to a statement released by the company on SENS and to the media, EOH concluded agreements to divest of its Network Solutions business (‘EOH-NS’) conducted...
Seacom’s contribution to JSE-listed investment group Remgro’s headline earnings fell by 77% in the year ended December 2021, driven lower by increased operational costs and foreign exchange losses. Remgro owns an effective economic stake of 30% in Seacom, which operates undersea fibre assets and terrestrial fibre infrastructure in Southern and East Africa. The company has a...
