South African investment group and the world's largest provider of fixed satellite services have announced a R2.5 billion joint venture aimed at enhancing Africa's telecommunications infrastructure.

 The joint venture between Convergence Partners and Intelsat will see the companies collaborate in the financing, building and launch of a new satellite, that would service Africa's advancing telecommunication needs
The satellite, to be called 'Intelsat New Dawn', will be optimised to deliver wireless backhaul, broadband and television programming to the continent and is expected to enter service in early 2011.
The project is expected to cost a total of about $250 million (R2.5 billion) and is to be funded by both equity and non-recourse project financing from Nedbank Capital and the Industrial Development Corporation of South Africa.

Chairman of Convergence Partners Andile Ngcaba said, "The New Dawn joint venture … represents a solution for Africa by Africa. Over the course of this satellite's life, it will provide world-class connectivity, allowing businesses to grow and rural communities to connect."
Africa has been one of the fastest growing regions for fixed satellite services in recent years, fuelled by demand for critical infrastructure from communications providers and television programmers.
Wireless telecom operators, broadband service providers, corporate network service providers and direct-to-home television operators have experienced growth along with the economic development of the region.
Ngcaba believes that continued investments in African telecommunications, media and technology will offer investors superior returns while also accelerating the socio-economic development of the continent