Convergence Partners has sold its 25.1 per cent interest in the New Dawn satellite to Intelsat South Africa
Previously a joint venture between the two companies, the New Dawn satellite is now wholly owned and operated by Intelsat. Stationed at the 33° East orbital slot, the satellite provides services to sub-Saharan Africa.
Andile Ngcaba, chairman of Convergence Partners, said, “The New Dawn partnership was created to enable the parties to achieve specific objectives. The technical anomaly, which resulted in the non-deployment of one of the satellite’s reflectors, precluded us from fully realising our broader objectives.
“The venture was a landmark deal for Africa and fundamentally changed the way Africans participate in this critical sector and, as such, remains something we are very proud of,” he added.
Initiated in 2008 by Convergence Partners, Altirah Telecoms and Intelsat, the venture aimed to supply critical communications infrastructure for African customers to support the continued development of the region.
Construction of the satellite was completed in 2010 and it was launched in 2011. Commercial services on the operational Ku-Band payload commenced in June 2012 and the satellite hosts the MCPC platform for the growing digital television market in the region.
Ngcaba commented, “Convergence Partners maintains its long-term commitment to the African space communications sector and is creating further ventures in this regard, in order to assist in ensuring strong representation of Africans in all aspects of the industry.
“The development of these opportunities meet the twin objectives of Convergence Partners, being the generation of attractive financial returns as well as acceleration of the socio-economic development of the continent,” he concluded.
