Cape Verde's 2nd GSM Network to Launch Next Week
Published on: 13th Dec 2007
Note -- this news article is more than a year old.
The island nation of Cape Verde is due to get a second GSM network next week when T launches its services on the main island of Santiago with national coverage due by the second half of 2008. The country currently has a monopoly operator, Cabo Verde Telecom.
The chairman of the board of the company, Marco Bento, told MacauHub that T+ would offer "competitive prices" and would be an alternative for mobile communications.
T+'s shareholders are Teylium Telecom (70%), Alexander group Telecommunications (15%) and Marco Bento (15%). Ericsson provided the network infrastructure.
T+ plans to invest USD50 million over the next three years, including US$15 million for 2007-2008 and plans to create 100 direct jobs and 500 indirect jobs.
The Mobile World reports that the incumbent operator, Cabo Verde Telecom had 134,000 subscribers at the end of September 2007 - which equates to a population penetration level of 32%.
Most of the nation's GDP comes from the service industry. Cape Verde's economy has grown since the late 1990s, and it is now considered a country of average development. Cape Verde has significant cooperation with Portugal at every level of the economy, leading it to link its currency first to the Portuguese escudo and, in 1999, to the euro.
Tags: Cape Verde