AccessKenya Group invests in TEAMS sub-marine cable

Mergers, Acquisitions and Financial Results

AccessKenya Group, Kenya’s only publicly listed ICT Company and Kenya’s leading Corporate ISP announced that they have signed the documentation committing to an investment into TEAMS, The East African Marine System. The TEAMS project will lay a fibre optic cable from the Middle East to East Africa, bringing improved connectivity to Kenya. AccessKenya announced that they have taken a 1.25% stake in the company.

Projects such as TEAMS require significant investment but given the importance of international submarine fibre for the future growth of our Group, we felt it was important to make an investment in TEAMS in line with our future growth projections. This also fits our corporate policy of owning our own infrastructure as far as possible and where it is financially viable.

By owning a share of the TEAMS cable, we will ensure that we have 2500 megabits of international capacity. Given the timescale of the cable and given that our current bandwidth is 250 megabits, we felt that the correct stake in the company was 1.25% to give us 10 times the capacity we have today.” said Jonathan Somen, Managing Director of Access Kenya. “In addition, with two other fibre optic cables coming to Kenya in the next 18 to 24 months, and given that our policy is to ensure that we always provide redundancy on our services to clients, we are already in discussions with other parties to secure additional capacity on one of the other cables for when they too land in Kenya.

Offering alternative routes for internet traffic is key to us to ensure we always deliver top quality connectivity to our clients” continued Somen. "With the arrival of the fibre in 2009, we believe the capacity purchased by clients will be higher and while we already have significant local capacity to deliver services to our clients today, we are in the advanced stages of development of several other local and national network expansions to ensure that when the submarine fibres arrive in Kenya the AccessKenya Group will have more than enough local capacity to deliver the high speed services and capacities required by our clients.” concluded Somen.