By Business Tech

South Atlantic Express (SAex), the planned $320-million submarine cable connecting South Africa and Brazil, has not yet received financial backing, eFive, the company behind the project has said.

Lawrence Mulaudzi, the MD of eFive, said in April 2011 that a worst-case date for the cable’s commissioning would be June 2013, with a best-case date for the first quarter of that year.

However, Rosalind Thomas, who was appointed CEO at eFive Telecoms in January, said: “The project is not going to be ready in 2013 due to delays experienced last year. Our target date is Q4 2014.”

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