The cost of internet bandwidth is expected to go down significantly in the next few months with the connection of Ghana to the Main One fiber optic cable. The undersea cable which stretches from Portugal, through Ghana to Lagos will offer a third ultra-high speed connection to the internet after the Vodafone-managed SAT-3 and Glo One. The availability of bandwidth is set to trigger massive cuts in the cost of the services. Already Main One’s Chief Executive is promising to connect wholesale internet companies at least at half of what they currently pay. Funke Opeke made the offer at a ceremony to officially announce the country’s hook-up to the fiber optic cable. The cable has the capacity to transmit massive amounts of data. At 7.2 terabits per second the speed is ten times the current capacity of the SAT 3 which is the main provider of bandwidth for most internet users in the country. Bernard Logan, of Tyco, the company that laid the cable told Joy Business: “If you transmit every single book in the largest library in the world and you did it 10,000 times at the same second it still would not overload our cable.” The first phase of the project cost 240 million dollars and was financed by a consortium, including the Africa Finance Corporation, some Nigerian banks and the African Development Bank. The Chairman of Main One, Fola Adeola however lashed out at the AfDB for the high interest rate charged, while an AfDB representative defended the interest rate charged. He says 14 percent was fair for a private application. Source: Joy Business/Myjoyonline.com/Ghana