Karachi: Pakistan Telecommunication Company Limited (PTCL) announced that as of February 21, 2025, approximately 75% of its USD 59.50 million investment in the Africa-1 submarine cable project has been completed. This project, initiated in November 2020, aims to enhance connectivity between the UAE, Europe, and Africa through multiple landing stations. The investment has been part of PTCL's capital expenditure since 2021, with an expectation to reach the full project cost within the year.

The Africa-1 submarine cable is projected to become Ready for Service (RFS) by the first quarter of 2026. Once operational, the cable is anticipated to contribute to PTCL's revenue growth. According to information available from the Pakistan Stock Exchange (PSX), the groundbreaking celebration for the cable's landfall at PTCL's Sea View, Karachi landing site is scheduled for February 22, 2025.

This development is seen as a significant step in improving Pakistan's digital infrastructure, aligning with PTCL’s strategic goals. The announcement was made in compliance with rule 5.6.1 of the Rule Book of Pakistan Stock Exchange Limited, along with Sections 96 and 131 of the Securities Act 2015. This information has been disseminated to all concerned parties, including the TRE Certificate holders of the Exchange, as part of PTCL's disclosure obligations.