Main One Cable Company, a communications services company with submarine cable from Portugal to West Africa, has signed $100 million re-financing facility agreement with four Nigerian banks. It has also announced its intention to complete a $25 million data centre in Lagos by 2014. The company also announced its membership of Alliance for Affordable Internet (A4AI).
The CEO of the company said about joining A4AI: “ Main One is supporting A4AI because the coalition’s objectives are in tandem with Main One’s vision of delivering accessible and affordable Internet to people across its various markets.”
“Driving down artificially high Internet prices will help to connect the high percentage of Nigerians especially the youths who are presently not connected to the Internet and make universal access to Internet a reality.”
Speaking on the refinancing facility, Main One’s Babatunde Dada said, “The successful signing of this facility agreement clearly shows the trust which the financial institutions have in Main One, as well as our expansion plans in Nigeria and our other West African markets.”
Opeke on the data centre said, “Internet penetration has been a huge issue in Nigeria especially to the hinterlands. The new data centre will leverage on Main One’s network which is peered with leading operators and internet exchanges worldwide to provide global reach to our customers across all locations.”
The banks that provided the facility are Skye Bank Plc, Standard Chartered Bank Plc, First Bank of Nigeria Plc and First City Monument Bank Plc.