Superfast broadband to transform SA economy



JOHANNESBURG, (CAJ News) – IN a major boost for the South African economy, Wireless Business Solutions (WBS), has announced a “multi-billion Rand” investment in a new high-speed LTE-A (Advanced Long Term Evolution) national data network.

Veteran banker and WBS Chairman, Paul Harris, made the announcement.

Harris said South Africa needed investment in productive capacity in order to tackle our economic challenges.

“Nothing can be gained by sitting on the sidelines. WBS’ investment is a manifestation of its confidence in South Africa and its desire to contribute,” he added.

He noted that WBS was investing in one of the most crucial areas for competitiveness of the economy, and the multiplier effect of broadband was a transformative in economic growth and therefore in meeting challenges of employment, poverty and inequality.

The network will use WBS’ existing spectrum assignments in the 1800 and 2600 Mhz bands.

It will be enabled to use 5G when the technology is rolled out internationally inside the next five years and will place South Africa among the leaders in the field.

A limited number of sites are already in operation and existing WBS customers will be converted to the new network – with national rollout commencing in the next few months.

It is envisaged the network will provide super-fast broadband to consumers and businesses alike.

WBS was recently acquired by the network management company Multisource.

Other shareholders and directors include Phumlani Moholi, the ex CTO of MTN and Brandon Leigh of Multisource, Ravi Naidoo, the founding CEO of Design Indaba, Michael Jordaan ex CEO of FNB and Duncan Simpson-Craib, the MultiSource Group CEO.

It has a 30 percent BEE shareholding.

CAJ News

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Posted by on Sep 20 2016. Filed under Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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