China Unicom Seals XAF280 Billion Deal to Expand Cameroon's Telecom Industry
October 15 2015 - 10:30AM
Dow Jones News
By Emmanuel Tumanjong
Special to DOW JONES NEWSWIRES
YAOUNDE, Cameroon--China United Network Communications Corp. and
state-run Cameroon Telecommunications, or Camtel, signed an
agreement Wednesday that will involve deploying a
5,917-kilometer-long undersea cable between Brazil and Cameroon,
aimed at expanding the West African nation's telecommunications
capability.
The 280 billion Central African francs ($487 million) contract
was sealed by China Unicom Vice Chairman Yimin Lu and Camtel
General Manager David Nkoto Emane.
Camtel will buy broadband technology and equipment from China
Unicom through its strategic partner Huawei Marine Networks. Huawei
Marine Networks will build the landing station in Cameroon and
Spain's Telefonica will construct the Brazilian hub.
Eximbank China will finance 85% of the project via a loan to the
Cameroon government, with the government financing the rest,
Cameroon's minister of telecommunication, Lisette Libom Lilikeng,
told Dow Jones Newswires Thursday.
"This investment permits us to transform Cameroon into a hub of
mobile telephone and broadband in the Central African sub-region,"
said Mr. Emane.
Write to Emmanuel Tumanjong at
realtimedesklondon@dowjones.com
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(END) Dow Jones Newswires
October 15, 2015 10:15 ET (14:15 GMT)
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