Lagos Subsea Cable Update
With the exception of 2Africa, which has two landings one of which is 500 kilometers South of Lagos, all Nigerian landings are along a 25 kilometer wide beach in an area called Lekki. I expect 2Africa and Equiano to dominate the transport market going forward with 2Africa finally live in February or early March. At that point I expect combined capacity of these two modern cables to push prices into the teens for 100G waves. The older subsea cables like WACS, ACE, MainOne, SAT3, and GLO-1 will struggle to compete because their per bit costs are much higher. These older cables have far less capacity, but similar operating expenses similar to 2Africa or Equiano. For example, the older cables probably pay as much if not more for maintenance given their higher fault frequency. They are more likely to experience outages due to shallower burial and riskier routing through the blue ocean than either Equiano or 2Africa. Inferior service, higher costs. Not a recipe for success. Unlike thei...