Part of the high-performance cable - understood to be the 15 000km section running between South Africa and Europe along Africa's west coast - is expected to be operational by the end of next year, she told journalists at a parliamentary media briefing.
The cable will also link several countries along the West African coastline.
A similar cable is planned for Africa's east coast, linking South Africa to Asia.
Matsepe-Casaburri said the cables would provide "accessible, affordable and reliable" telecommunications to South Africa and Africa.
"Part of the cable is expected to be operational by the end of 2009, so it could provide additional capacity for the 2010 Soccer World Cup," she said.
Her cabinet colleague, Public Enterprises Minister Alec Erwin told the briefing: "Our focus is on the link to Europe, and servicing the west coast of Africa."
Attempts to get further details on the project from the department of communications were not successful.
- Sapa