Africa: Investors mount ambitious plan for African satellite

African investors have hatched an ambitious plan to launch a dedicated satellite to beam more bandwidth to the continent. Africans will supply 90 per cent of the funding, with global satellite company Intelsat providing the experience and credibility to get the project done. The main local backer is Convergence Partners, a hi-tech investment fund chaired by Andile Ngcaba, a former Director-General of South Africa’s Department of Communications.