Press Release

Wednesday, July 27, 2011

Main One Cable connects IVD to broadband network

Press Release - Wednesday, July 27, 2011

Lagos (Nigeria), July 27, 2011 – Main One Cable Company, a communications services company and Nigeria’s first private submarine cable company in service, has announced the connection of Fate Foundation’s Institute for Venture Design (IVD) to its world-class broadband network. The connection of IVD, a wealth creation business enterprise further reiterates Main One’s growing reputation as the broadband service provider of choice in Nigeria, as well as IVD’s recognition of Main One’s competence in network delivery and connectivity efficiency.

According to Ms. Funke Opeke, Chief Executive Officer of Main One Cable Company, “by connecting to the Main One Cable network, IVD is now better positioned to play a leading role in Nigeria’s drive towards innovation, entrepreneurship and wealth creation.”  She acknowledged that a major cause of business failures in Nigeria has been the dearth of Information and Communications Technology (ICT) innovation.  Explaining further, the CEO who is also an experienced telecom engineer noted that Main One’s commitment as a provider of reliable and affordable broadband internet connectivity, as well as a network availability component of 100% since launch will through the IVD venture support the laudable objectives of Nigeria’s National Economic Empowerment and Development Strategy (NEEDS), especially in the sectors of education, health, ICT and infotainment.

The Coordinator of the Institute, Ms. Olusola Adeola, in her response, maintained that  the Internet connectivity service of Nigeria’s submarine cable giant, Main One will enable IVD develop an indigenous techno-entrepreneurship class capable of competing in the global market in which creativity and skills play a dominant role. She lauded Main One for rendering reliable broadband service to Nigerians within its first year of operations. 

Since the Main One Cable network went live in July 2010, it has continued to break ground with its open access model that delivers IP, wholesale and collocation services to its client base. Main One currently has a growing list of major telecom and Internet service providers in Nigeria which include MTN, Etisalat, Starcomms, Swift Networks, Mobitel, Netcom, IPNX, Visafone, e-Tranzact, Exxon Mobil amongst others. For more information on Main One Cable and its current client base, please visit www.mainonecable.com.

About Main One

Main One Cable is the first submarine cable company offering open access, wholesale broadband capacity in West Africa. This objective is being realized through a submarine cable system which commenced operations in July 2010 linking West Africa to the rest of the world via Portugal and the United Kingdom.

Main One Cable’s vision is to be the most reliable, scalable and professionally managed international telecommunications service provider on the African continent. The company’s high capacity fibre ensures that reliable, affordable and first class service delivery of much needed broadband capacity is easily available and accessible within West Africa for regional and international operators as well as service providers.

Main One Cable remains steadfast in the pursuit of its mission to eradicate the communication challenges which limit African businesses from being truly global. It is achieving this mission by providing the infrastructural platform to help make their businesses available and reachable from anywhere in the world.

About Institute for Venture Design

The Institute for Venture Design is a subsidiary unit within FATE Foundation, established to create effective and globally scalable solutions in Nigeria through entrepreneurship and innovation. A new organization with a bold vision to increase prosperity and wealth creation in Nigeria, IVD works in close collaboration with the Centre for Design research at Stanford University and offers an array of programs geared towards cultivating a culture of risk-taking, a mindset of unconventional behaviour and creativity.

About Fate Foundation

FATE Foundation is a non-profit, private sector led organisation. It was created and funded by Nigerians in March 2000, to address the growing needs of the viable youth of Nigeria and has been used as a vehicle to directly attack the high rates of unemployment and poverty in Nigeria.  In 2005, FATE Foundation successfully surpassed its year 2005 vision of fostering the establishment and growth of 1,000 businesses.

The impetus behind FATE stemmed from a strong concern for the high levels of unemployment and poverty in the country. FATE is committed to assisting Nigerian youth to establish and grow successful businesses by equipping them with the tools, skills, networks and financing required for this task.