Cabo Verde Telecom invests 30 millione uros in new technologies

10 September 2010

Praia, Cape Verde, 10 Sept – Cape Verdean telecommunications company, Cabo Verde Telecom is implementing an investment plan of 30 million euros to improve the quality of telecommunications, specifically Internet access, the company’s chief executive said in Praia Thursday.

Speaking to Portuguese news agency Lusa, Humberto Bettencourt dos Santos noted three projects underway, which would be concluded by mid 2011 at the latest, although others may be operational by the end of this year.

Joining the WACS (West Africa Cable System) project, the undersea fibre optic cable due to be operational in the first half of 2011, involved an investment of 20.8 million euros and will make it possible to “substantially” increase broadband on the archipelago, which is lacking outside of Santiago island.

The new cable will also make it possible to expand the fibre optic network to all the islands, linking up those that are still lacking – Maio, Fogo and Brava – an expected investment of 6.45 million euros, which is scheduled to be in operation also in 2011.

“We are going to be equipped with a world class network with a panoply of the world’s most modern services,” noted dos Santos, providing figures in which Cape Verde was amongst the top three medium developed countries in terms of technology and prices.

The CVT group is made up of CV Telecom (the only fixed-line telephone company), CV Móvel (the country’s biggest mobile telecom company with 78 percent market share) and by CV Multimédia (Internet and subscription television).

Cabo Verde Telecom’s biggest shareholder is Portugal Telecom (with 40 percent of the capital), followed by social security institute, Instituto Nacional de Previdência Social (INPS) with 37 percent and Sonangol Cape Verde, with 5 percent. (macauhub)