Cape Verde's Submarine Cable Boosts Digital Ambitions
Deal News | Dec 10, 2024 | fitch media ventures

Cape Verde is advancing its digital transformation via the construction of a new submarine cable system set to be operational by mid-2026. This development forms part of the country's Ambition 2030 program and is supported by a €37 million funding tranche from the European Investment Bank. The new infrastructure will replace six inter-island cables and enhance links to international submarine cables, thus facilitating the nation's 5G ecosystem and AI-driven applications. By enhancing connectivity, the project aims to position Cape Verde as a technological nexus for its less-connected neighbors in Western Africa. The country, which ranks within the higher tier of Sub-Saharan telecommunications, seeks to surpass regional limitations such as high internet costs and slow 5G adoption, ultimately fostering a more digitally robust economy.
Sectors
- Telecommunications
- Digital Transformation
Geography
- Cape Verde – The main focus of the article is the digital transformation projects being undertaken in Cape Verde.
- Western Africa – Cape Verde's submarine cable aims to enhance connectivity for underdeveloped markets in Western Africa.
Industry
- Telecommunications – The article focuses on developing submarine cable systems to enhance Cape Verde's telecommunications infrastructure, supporting 5G and AI.
- Digital Transformation – Efforts align with Cape Verde's Ambition 2030 to digitize and increase connectivity within and beyond its borders.
Financials
- EUR37mn – Funding secured by the Cape Verde government from the European Investment Bank for cable construction.
Participants
Name | Role | Type | Description |
---|---|---|---|
Cape Verde Government | Initiator | Government | Overseeing Ambition 2030, digital transformation strategy, and infrastructure development. |
European Investment Bank | Funding Provider | Institution | Financed Cape Verde's submarine cable construction with a €37 million investment. |