Jo-Maré Duddy – Locally-listed Paratus Namibia Holdings, the landing party for the subsea cable Equiano in the country, today confirmed Demshi Investment Holdings as a significant capacity investor.
“The deal realises the critical and ultimate vision of providing Namibian networks and their customers with greater capacity. In turn, this will enable more product options, stimulate economic growth and support a competitive telecommunication sector,” Paratus said in a statement.
In 2019, Google first announced its Equiano project. The cable will connect Africa with Europe, running along the west coast of Africa, between Portugal and South Africa.
Google’s Equiano cable incorporates new technology that enables approximately 20 times more network capacity than the last cable built to serve this region and provides flexibility to add and reallocate capacity in different locations as needed.
The Namibian landing station is scheduled to be completed in the latter part of 2021, with the Equiano cable expected to land in the second half of 2022.
Paratus Namibia Holdings is listed on the Local Index of the Namibian Stock Exchange (NSX). It closed Tuesday at N$11.75 per share. The share has gained 2.3% since the end of 2020 and 14.4% since the beginning of last year.