| Project Detail |
The project relates to the promoters investment plan to support Cape Verdes strategic objective to become a digital hub in the West Africa region. In line with this objective, the promoter will invest in a new connection to a latest generation submarine cable system connecting Europe and the West coast of Africa. In addition, the promoter will also invest in the replacement of the passive fibre optic submarine cable interconnecting the countrys islands, which is reaching its end of life, as well as in the modernisation of the information systems, both software and hardware, to improve functionality and efficiency.
Objectives
As part of the EUs Global Gateway strategy, EIB Global is supporting this project, which is expected to upgrade and enhance the existing digital infrastructure enabling environment in Cape Verde, to support the Government of Cape Verde in their ambitious digitalisation strategy and objective to become a regional digital hub. As a result, the project is expected to have a number of important socio-economic benefits for Cape Verde and the wider West Africa region. The project is expected to improve the availability and quality of digital connectivity for the local private sector, including SMEs. By supporting Cape Verde in consolidating its position as a regional digital hub of excellence, the project will stimulate innovation and indirectly contribute to the creation of highly skilled jobs in Cape Verde and potentially the wider West Africa region. In particular, Cape Verdes connection to Googles Equiano submarine cable would consolidate the countrys cable access, and enable Cape Verde to act as a safe and secure global and regional transit platform and digital traffic. Cape Verde could thus become a digital converging point between Africa, Europe and South America, providing backup systems for the region, benefiting from Cape Verdes transparent and stable regulatory framework.
Comments
NDICI Investment Window 4
Sector(s)
Telecom - Information and communication
Under Global Europe NDICI guarantee
Under EFSD+ Guarantee
Proposed EIB finance (Approximate amount)
EUR 22 million
Total cost (Approximate amount)
EUR 50 million |
