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Egypt’s telecommunications and IT systems integrator, Fiber Misr announced on Tuesday it plans to launch a new firm specialising in submarine cables services for the African continent by mid-April.
Named Marine Africa, the firm will be the first of its kind in Africa. It will be with investments worth around 1.8 billion Egyptian pounds ($104 million), Fiber Misr’s chief executive Ahmed Mekky told Amwal Al Ghad.
“The new firm will witness a strategic cooperation with Telecom Egypt in the field of submarine cables,” Mekky said.
Marine Africa will start its operations from the Mediterranean Sea to cover all the African countries, he said, adding that the company is to include a bunch of organisations besides local and global firms.
