ICL being the first international submarine cable that connects Vanuatu rest of the world landed in Port Vila in 2013. Later in 2014, it was commissioned and ready for use in March of 2014.
The ownership of ICL is through shares are as follows:
- Vanuatu National Provident Fund: 37.5% representing 300 shares
- Interchange Holdings Ltd: 25% representing 200 Shares
- Fidelity Pacific Life Insurance Co. Ltd: 12.5% representing 100 shares
- Vanuatu Post Ltd: 12.5% representing 100 Shares
- Vanuatu Government: 12.5% representing 100 Shares
Β
With the major reforms in the Telecom Sector, and landing of the submarine cable, it has a positive impact on the GDP of Vanuatu in 2014 and continues on in 2015 where Vanuatu was recognized by the United Nations with the ICTs in Sustainable Development Award for its outstanding leadership and ambitious, effective and
sustainable initiatives to ensuring full ownership of connectivity.
Β
The handing over of 50% payment for the acquisition of 200 shares of Interchange Holdings Ltd in Interchange Cable Ltd, with the presence of
β’ ICL Shareholders:
β’ ICL Board and Management:
β’ Minister, Director General and Staff of the Ministry of Finance & Economic Management:
β’ Director General of Prime Minister's Office
β’ ICL Shareholders - Interchange Holdings Ltd (IHL)