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    Hellkom > News > Local > African undersea cable set to recoup its losses

African undersea cable set to recoup its losses

7 June 2002
 
African countries would recoup the $630 million cost of a new undersea fibreoptic cable linking the continent to Europe and Asia within two years, the head of Telkom said yesterday.

Chief executive Sizwe Nxasana told delegates at the World Economic Forum regional summit that $300 million of international phone revenues had left the continent every year as Europe was the main transit point for calls between Africa and the rest of the world.

"This means we will recover our costs in two years - it's an easy way of looking at it," he said. The 28 000km cable, financed by a consortium of 36 companies and with landing points in 14 countries, was inaugurated last week in Senegal's capital Dakar ...

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