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SES Astra Signs News Pan Africa Broadband Satellite Deal
Luxembourg - Oct 02, 2003 SES Astra, an SES Global company, Industrial Development Corporation (IDC) of South Africa, and Africa Venture Partners (AVP) are investing in IP Direct to create the premier pan-African broadband satellite provider. Industrial Development Corporation (IDC), a self-financing, national development finance institution in South Africa, and SES Astra, the operator of Europe's leading direct-to-home satellite system, have each concluded an investment in IP Direct. SES Astra's stake in IP Direct amounts to 40.96%. Financial terms of the transaction were not disclosed. IP Direct, a new company based in Johannesburg, South Africa, was started by AVP, a recognized investment and strategic management firm specialising in African telecommunications, with the business scope of providing retail and wholesale broadband satellite services initially to West Africa, and in a second phase all across the African continent. IP Direct will use high power Ku-Band space segment on the steerable beam of Astra 2B at 28.2� East (featuring up to 16 transponders), which SES Astra will deploy in order to provide optimal coverage of West Africa. Additional space segment from within the SES Global fleet of satellites is anticipated to be brought online with the roll-out of services to other African countries. States Ferdinand Kayser, President and CEO of SES Astra: "Africa is one of the strongest growing Internet and telecommunication markets in the world, despite many users experiencing difficulties in connecting or facing unreliable service and frustratingly slow transmission speeds. "Satellite broadband offers an ubiquitous, state-of-the-art high-speed service, not least in those areas not served or underserved by terrestrial networks. "We are convinced that IP Direct's customized and scalable two-way satellite services respond to a real market demand across Africa, and are committed to tap that market, together with such strong and experienced regional partners as IDC and AVP." Mr. Robert Tibbs, co-founder of AVP and the CEO of IP Direct, concludes that: "This Company will bring access and services on a scale and breadth that has not been seen in Africa. Our management team has been selected globally to bring together the most experienced executives operating in the sector." David Keast, co-founder of IP Direct, states: "We are delighted to be able to have SES and IDC, both leaders in their fields, as our shareholders and partners in IP Direct. We are building the leader in this space, but it is only the beginning." Mr. J. Eric Wright, co-founder of Africa Venture Partners, stated that: "AVP's fundamental focus has been on developing wireless communications infrastructure and accessibility in Africa. "We view IP Direct as a cornerstone of this focus, and the platform from which we will develop networks and solutions that address the needs of African businesses, governments and residential customers." The IDC remains one of the most important instruments for developing South Africa's economy to be viable, sustainable, environmentally and socially responsible. The IDC's focus is on contributing to economic growth, industrial development and economic empowerment through its financing activities. The IDC has evolved from being a leading industrial player at national and regional levels to being the first South African Development Finance Institution (DFI) to have its mandate extended to the rest of the African continent. These developments will provide an important catalyst for the New Economic Partnership for African Development (NEPAD). Africa Venture Partners (AVP) is a pan-African investment and strategic management partner focused on applications of new telecommunication technologies. AVP is a hands-on investor and only makes investments in assets where it has a significant management and operating control. The company is involved in satellite communications, fibre optics, terrestrial wireless, and Internet backbone companies. Africa Venture Partners was founded by entrepreneurs Robert Tibbs, J. Eric Wright, and David Keast, and has offices in South Africa, Nigeria, Ghana and Mauritius. Community Email This Article Comment On This Article Related Links IDC Africa Venture Partners SES Astra SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express Satellite-based Internet technologies
iPod Dominance A Mirage
Chicago (UPI) Jan 09, 2006Though Apple Computer has reported remarkable success with its iPod - sales rose by 250 percent during the last fiscal year - there is some competition coming this week for the developer of the world's most famous, legitimate music downloading network, experts tell United Press International's Networking. |
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