The East African Submarine Cable System (EASSy) is the second new undersea cable to get off the ground, having securing enough financing to begin rolling it out. Construction will begin within the next couple of weeks and the cable is expected to begin operations as early as March 2009. 

According to a report on IOL Technology, five development finance institutions – the IFC, the European Investment Bank, the African Development Bank, the French Development Agency and Germany's KfW development bank – will lend the EASSy consortium $70,7-million. The total project is expected to cost about $235-million over five years.
The consortium expects to announce firm plans for rolling out the cable project by the end of the week.
The EASSy submarine network will span nearly 10 000km, linking eight countries from Sudan to South Africa via Djibouti, Somalia, Kenya, Tanzania, Madagascar and Mozambique. Landings will be located in Port Sudan, Djibouti (Djibouti), Mogadishu (Somalia) Mombasa (Kenya), Dar es Salaam (Tanzania), Toliary (Madagascar), Maputo (Mozambique) and Mtunzini (South Africa).
The initial capacity will be 20Gbps, with ultimate capacity of 320Gbps per fiber pair.
The EASSy project initiative encompasses 22 telecom operators representing 20 countries, 90% of which are African operators, both private and public enterprises.