Yahsat reports 48.2% revenue growth and 39% net income growth in Africa
03 February 2023
Al Yah Satellite Communications Company has reported that it generated US$12.374 million in revenue from Africa in the nine months that ended on 30 September 2022. This revenue figure is a 48.2% increase from last year’s period.
In addition, Yahsat recorded net finance costs of US$1 million, which was a reduction of 90% as compared to the previous years. This positive change was a result of refinancing the June 2021 debt. The company also recorded a normalised net income of US$76 million, up to 39% year on year, with a 24% margin.
Find out more Djibouti to gain spaceport
01 February 2023
The Republic of Djibouti has signed a Memorandum of Understanding with Hong Kong Aerospace Technology Group Limited and Touchroad International Holdings Group to develop an international commercial spaceport in the northern Obock Region of Djibouti.
This is a preliminary agreement between the parties to build a spaceport which is expected to comprise seven satellite launch pads and three rocket testing pads. The project is estimated to cost around US$1 billion and is expected to take five years to complete.
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Viasat and Microsoft partner for internet access
01 February 2023
Microsoft and Viasat have announced a new partnership to help deliver internet access to 10 million people around the globe, including 5 million across Africa.
Viasat is the first satellite partner to work with Microsoft’s Airband Initiative and together, they will deepen Airband’s work in the Democratic Republic of Congo, Nigeria, Guatemala, Mexico, and the US, and expand the program to Senegal and Angola to deliver much needed internet connection.
This first of its kind global partnership for Airband is an important step in reaching the initiative’s expanded goal of delivering internet access to a quarter of a billion people across the world, including 100 million people on Africa, by the end of 2025.
Find out more CommCarrier to provide connectivity to Kenya with Azercosmos
31 January 2023
CommCarrier to provide connectivity to Kenya with Azercosmos
CommCarrier has signed a long-term cooperation agreement with Azercosmos to provide internet services by satellite to government organizations in Kenya.
The Ku-band capacities of the Azerspace-2 satellite will be exploited within the framework of this partnership.
“We are pleased to see the use of our satellite services by government and private entities in the African region. CommCarrier is a reliable partner for the region and we are already accelerating our work on prospective commercial projects,” said Fuad Aslanov, vice president of Azercosmos.
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