Satellite operator Intelsat, along with investors from South Africa, have gained approval of a US$25 million loan for the launch and operation of a pan-African satellite system.
The loan, provided by the African Development Bank, brings project funding to a total of roughly US$300 million, which will cover the design, construction, launch and operation of the satellite system.
The initiative, named the New Dawn Satellite project, will connect regional and local communication networks to global communications infrastructure. It will also extend satellite coverage beyond major cities to rural areas in Africa.
The project is seen as a good fit for both the African Development Bank’s ICT strategy, as well as the New Partnership for Africa’s Development (NEPAD) extended medium and long term developmental goals.
