Africa50, Bayobab announce $320mn inland fibre optic cable to connect Africa

Africa50 and Bayobab have recently signed a partnership to develop Project East2West, a terrestrial fiber optic cable network that will connect the eastern shores of Africa to the western ones. This ambitious project aims to invest up to $320 million and will connect 10 African countries between the years 2023 and 2025. In a recent interview with CNBC Africa, the CEO of Africa50, Alain Ebobissé, discussed the collaboration and the importance of bridging the infrastructure gap on the continent. Ebobissé highlighted the strategic goal of Africa50 to increase the penetration rate of broadband connectivity in Africa. The partnership with Bayobab is set to accelerate the implementation of this goal, bringing broadband access to African populations and businesses. He emphasized the significance of addressing development challenges while creating shareholder value, thus achieving a double bottom line impact. The partnership leverages Bayobab's expertise in laying fiber infrastructure across the continent over the past five years, combined with Africa50's convening power and the support of 31 African government shareholders and institutions like the African Development Bank. This collaborative effort aims not only to connect countries within Africa but also to ensure that landlocked nations have access to broadband connectivity. With the African Continental Free Trade Area driving regional trade across the continent, there is an increasing demand for digital infrastructure. Ebobissé believes that the partnership between Africa50 and Bayobab will address this need while also presenting an attractive investment opportunity. One of the key aspects of the partnership highlighted by Ebobissé is that the initiative is 'for Africa and by Africa.' By having African institutions driving the project, the aim is to make infrastructure development impactful and profitable, showcasing the continent's ability to address its challenges. The interview also touched on the infrastructure gap in Africa and the need to attract capital to essential projects. Ebobissé acknowledged the infrastructure paradox, where there are ample investment opportunities but a shortage of bankable projects. He stressed the importance of developing such projects to attract investors and ensure the success of infrastructure initiatives. Africa50 is actively working on developing bankable projects in the ICT and fiber space to entice investors and bridge the infrastructure gap. By focusing on making projects attractive and viable for investment, Ebobissé is confident that investors will be willing to commit funds to support Africa's infrastructure development. The partnership between Africa50 and Bayobab represents a significant step towards enhancing broadband connectivity in Africa and addressing the infrastructure needs of the continent. With a clear strategic goal and a focus on creating value for stakeholders, this collaboration could pave the way for further investment in vital infrastructure projects across Africa.