SEACOM Expands Africa’s Digital Backbone Despite Cable Setback

Remgro  has an effective economic interest of 30% in SEACOM. SEACOM is a converged information and communication technology (ICT) services provider serving Digital Infrastructure and Digital Services markets in Africa and beyond. Through its Digital Infrastructure business unit, SEACOM operates diverse subsea and terrestrial fibre-optic connectivity networks with global reach; while SEACOM Digital Services provides cloud, cybersecurity and managed communication services to enterprise clients mainly in the Southern and Eastern regions of Africa.

SEACOM has a December year-end. Its results for the six months to 31 December 2024 have been included in Remgro’s results for the period under review. SEACOM’s contribution to Remgro’s headline earnings for the period under review amounted to R2 million (31 December 2023: R32 million). The decrease in headline earnings mainly relates to once-off cable repair costs incurred as a result of cable breaks experienced just before commencement of the reporting period.

The results for the period reflected a positive trajectory with higher revenue in both the Digital Services and Digital Infrastructure business units and a solid performance after normalising the results for the impact of once-off cable repair costs.

The business has continued to service demand for enterprise managed services including cybersecurity and cloud services, which has resulted in increased revenue for the SEACOM Digital Services business unit.