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I noticed today that Amazon AWS has servers in South Africa (Cape Town) so I launched a free virtual server instance and installed nginx with rtmp module to it so it could work as a simple Twitch relay. I did some testing and it worked really well on 3500 kbps. 4000 kbps was too much for my crabby 20/5 connection, but it really went better than I expected especially because it's about 10000 km to Cape Town from here.
With some work this could be a viable option as a relay server. It's needs at least a way of changing stream-key and some authentication so it won't be open to everyone.