[kictanet] [Fwd: Re: [Fibre-for-africa] SEACOM gets funding boost]

Thu Jan 17 11:31:51 EAT 2008

Eunice Mueni Kariuki wrote:

My understanding is that they are not looking for new investors.

 *Kind Regards,*

 Eunice Mueni Kariuki
These people have approached us to purchase capacity from them.  Don't we
have a right to find out who they are?  where they are coming from and what
their past is like.  Their earlier model of engaging Africa ended up in
disaster.  What makes you think the new model would work?

Victor.

On 17/01/2008, Mike Theuri <mike.theuri at gmail.com> wrote:
>
> Herakles Telecom does not appear to be a New York registered entity though
> it should be if
> that is where it is supposed to be based. May be someone could do some
> more research on
> them? The only other entity that comes up is Herakles Capital, which is
> seen as appearing
> in whois information based on the domain name seen here:
>
> http://www.tycotelecom.com/AboutUs/content.asp?page=view&type=Press&id=296
>
>
> http://www.networksolutions.com/whois/results.jsp?domain=heraklescapital.com
>
> That information leads back to Herakles Capital which in the New York
> State corporations
> database and which the same physical address for the technical contact as:
>
> Herakles Capital Japan Corp
> http://appsext8.dos.state.ny.us/corp_public/CORPSEARCH.ENTITY_INFORMATION?p_nameid=3374858&p_corpid=3373987&p_entity_name=%48%65%72%61%6B%6C%65%73&p_name_type=%41&p_search_type=%42%45%47%49%4E%53&p_srch_results_page=0
>
>
> They could still very well be legitimate, but their use of varying entity
> names is bound to
> raise questions particularly if they were involved in the failed project.
>
>
>  On Jan 16, 2008 10:16 PM, Victor Maloi <victormaloi3 at gmail.com> wrote:
>
> >  Wakabi,
> > You have not addressed the fact that the principals behind Seacom
> > collected funds from African Telcos and never refunded the money when the
> > project failed.  KPTC now Telcom Kenya indeed paid and never recovered the
> > funds.  Should we embrace these individuals even when they stole from our
> > national investments?  Please declare your interests too.
> >
> > Victor
> >
> >
> >
> > >
> > >
> > > -------- Original Message --------
> > > Subject:        Re: [Fibre-for-africa] SEACOM gets funding boost
> > > Date:   Wed, 16 Jan 2008 09:31:24 +0100 (CET)
> > > From:   Wairagala Wakabi < wakabi at cipesa.org>
> > > Reply-To:       APC - Private list for use by EASSY Workshop
> > > Participants
> > > <fibre-for-africa at lists.apc.org>
> > > To:     APC - Private list for use by EASSY Workshop Participants
> > > <fibre-for-africa at lists.apc.org >
> > > CC:     Kenya ICT Action Network - KICTANet <kictanet at kictanet.or.ke >
> > > References:     <3104.217.113.73.239.1195028026.squirrel at mail.cipesa.org
> > > >
> > > < 478CFEF7.1040209 at apc.org>
> > >
> > >
> > >
> > > Alice,
> > > Our understanding is that SEACOM (The Sea Cable System) is a
> > > registered in
> > > Mauritius and owned 25% by Herakles Telecom - the managing partner for
> > > the
> > > cable who is based in New York.
> > >
> > > The other partners:
> > > 1) Industrial Promotion Service of the Aga Khan Foundation (25%);
> > > 2)  Venfin (a South African investment holding company with interests
> > > in
> > > IT (25%);
> > > 3) Shanduka Group, a South African investment company ( 12.5%);
> > > 4) Convergence Partners, a South African Black Economic Empowerment
> > > (BEE)
> > > investment company focusing on the Telecommunications, Media and
> > > Technology (TMT) sector - 12.5%.
> > >
> > > SEACOM says the ownership structure varies for each segment of the
> > > cable,
> > > which ensures local ownership of the cable segments connecting
> > > individual
> > > countries to comply with regulations in those countries.  The cable
> > > backbone along the east coast of Africa and to India and Europe is
> > > owned
> > > by SEACOM; while the segments connecting to individual countries are
> > > either 100% (South Africa, Mozambique, Madagascar, India, France) or
> > > 35%
> > > (Tanzania, Kenya) locally owned.
> > >
> > > Wakabi
> > >
> > > =====
> > > > Hi all
> > > >
> > > > Out of curiosity, who is SEACOM? rather who are behind SEACOM?
> > > > Anyone conducted due diligence. Any connection to the Africa One
> > > saga?
> > > >
> > > > best
> > > > alice
> > > >
> > > >
> > > >
> > > > Wairagala Wakabi wrote:
> > > >> Netters,
> > > >> Its backers are saying SEACOM will be the only new cable completed
> > > in
> > > >> time
> > > >> to give South Africa the bandwidth needed for the 2010 WC, with
> > > "actual
> > > >> production of the fibreoptic cable and undersea facilities"
> > > starting
> > > >> next
> > > >> week. SA's SNO, NEOTEL, has helped marshal capital from local
> > > financial
> > > >> heavyweights, enabling NEOTEL to be owned 50% by South Africans.
> > > >>
> > > >> Tut Tut...
> > > >>
> > > >> Wakabi
> > > >>
> > > >>
> > > >> Sea cable venture lands big investors
> > > >>
> > > >> By Lesley Stones, Business Day, November 14 2007
> > > >>
> > > >> AN UNDERSEA cable promising cheap bandwidth for Africa yesterday
> > > finally
> > > >> named its backers, signing up enough well-connected local investors
> > > to
> > > >> guarantee its landing rights in SA.
> > > >>
> > > >> Investment heavyweight Venfin is sinking $75m into the project,
> > > taking a
> > > >> 25% stake in the 15000km cable linking SA to India and Europe.
> > > >>
> > > >> Cyril Ramaphosa's black investment house Shanduka is taking 12,5%,
> > > worth
> > > >> $37,5m. Another 12,5% goes to Convergence Partners, a group of
> > > black
> > > >> investors led by Andile Ngcaba, the chairman of Dimension Data
> > > Africa
> > > >> and
> > > >> a former director-general of the communications department. Nedbank
> > >
> > > >> Capital and Investec will provide financing for the $650m project.
> > > >>
> > > >> SA's second network operator, Neotel, is pumping in a far more
> > > modest
> > > >> R20m, and using its telecoms licence to guarantee that the cable
> > > can
> > > >> dock
> > > >> in SA.
> > > >>
> > > >> The local ownership is sufficient to ensure that Seacom meets
> > > >> controversial new conditions being drawn up by Communications
> > > Minister
> > > >> Ivy
> > > >> Matsepe-Casaburri, dictating who can land a cable in SA. The
> > > minister is
> > > >> insisting that any cable must be majority owned by African
> > > investors to
> > > >> come ashore.
> > > >>
> > > >> South Africans hold 50% of Seacom, and that rises to 75% African
> > > >> ownership
> > > >> thanks to 25% held by the Aga Khan Fund for Economic Development's
> > > >> Industrial Promotion Services, a development agency based in Kenya.
> > > >>
> > > >> The remaining 25% lies with New York's Herakles Telecom, a
> > > development
> > > >> group that has invested $4bn in Africa.
> > > >>
> > > >> Neotel is investing only in the local landing station, but its
> > > licence
> > > >> to
> > > >> operate in SA conferred on it the right to land a cable, said MD
> > > Ajay
> > > >> Pandey.
> > > >>
> > > >> "Our understanding is that the country needs international
> > > capacity, and
> > > >> the way international cable landing protocols have been defined
> > > means we
> > > >> have the opportunity here."
> > > >>
> > > >> Venfin CEO Jannie Durand said Neotel's licence to land a cable in
> > > SA
> > > >> meant
> > > >> everything had been done "legally and correctly". Venfin was
> > > backing
> > > >> Seacom for two reasons, he said: "We are hopefully going to make a
> > > lot
> > > >> of
> > > >> money out of it and SA needs more bandwidth. We want to bring SA
> > > >> affordable bandwidth to the rest of the world."
> > > >>
> > > >> Although the cable will cost $650m, it would be partly funded by
> > > loans
> > > >> as
> > > >> well as equity, allowing Venfin to take 25% for less than the book
> > > value
> > > >> of the project, Durand said.
> > > >>
> > > >> Pandey believes Seacom will be the onlyThe actual production of the
> > >
> > > >> fibreoptic cable and undersea facilities will start next week.
> > > >>
> > > >> The consortium has already invested more than $10m in a marine
> > > survey
> > > >> and
> > > >> engineering of the cable. The actual production of the fibreoptic
> > > cable
> > > >> and undersea facilities will start next week.
> > > >>
> > > >> Seacom will connect Mtunzini in SA to Mumbai in India and
> > > Marseilles in
> > > >> France via Mozambique, Madagascar, Kenya and Tanzania by June 2009.
> > >
> > > >>
> > > >> Terrestrial links will be built to take its bandwidth to numerous
> > > other
> > > >> inland countries. Its capacity of 1,28 terabytes per second is 10
> > > times
> > > >> the capacity on the existing Sat-3 cable around Africa's west
> > > coast.
> > > >>
> > > >> The consortium has promised that it will charge other voice and
> > > data
> > > >> carriers significantly less for its bandwidth than they pay to use
> > > Sat-3
> > > >> or satellite services, which should trigger a massive decrease in
> > > the
> > > >> cost
> > > >> of phone calls, internet access and data transmissions for African
> > > >> consumers and businesses.
> > > >>
> > > >> "Improved access for business and individuals in Africa to
> > > >> communications,
> > > >> broadband services and new technology offerings can improve lives
> > > and
> > > >> help
> > > >> grow the economies of our countries," said Ngcaba, the chairman of
> > > >> Convergence Partners. "The linking of southern and east Africa with
> > >
> > > >> India
> > > >> and Europe is crucial for enhancing development and trade between
> > > these
> > > >> key regions."
> > > >>
> > > >>
> > > >>
> > > >> _______________________________________________
> > > >> Fibre-for-africa mailing list
> > > >> Fibre-for-africa at lists.apc.org
> > > >> http://lists.apc.org/cgi-bin/mailman/listinfo/fibre-for-africa
> > > >>
> > > >>
> > > >
> > > > _______________________________________________
> > > > Fibre-for-africa mailing list
> > > > Fibre-for-africa at lists.apc.org
> > > > http://lists.apc.org/cgi-bin/mailman/listinfo/fibre-for-africa
> > > >
> > >
> > >
> > > _______________________________________________
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> > >
> > >
> > >
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