Essay Project seems on Track

Johannesburg, 4 June 2007 ] - With the imminent construction of the East African Submarine Cable System (Eassy), the Development Bank of Southern Africa (DBSA) has “tentatively” set aside $40 million for project participants

DBSA ICT specialist George Finger says the final amount the bank will provide as investment funding to Eassy participants will depend on how much other investors, such as the African Development Bank and the World Bank, are willing to invest in the project, he says.

“The bank's investment in Eassy can go up or down, depending on how much appetite for risk the other financiers have.”

• Meanwhile, the DBSA is developing a new strategy to give ICT investment a more regional flavour, which will see country lending caps increased, However, he explains the DBSA's 70:30 split in investments in favour of SA would change to a greater focus on regional projects.
• The investment cap for each of the countries in which the DBSA invests has also transformed in line with the changes in policy and regulatory framework, he says.“It is very difficult to state what the new caps will be.

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