Ghana 4G LTE Network: Investment in Surfline will contribute to improved Internet Connectivity
The funds committed by DEG to Surfline will be used for the on-going expansion of the company’s 4G LTE network in Ghana
Vantage Capital, Africa’s leading mezzanine debt provider, today announced that the DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH (“DEG”) and four other European investors are contributing a total of approximately $60m to Vantage’s third fund. DEG’s commitment to Fund III is $20m. In addition the DEG is providing $15m to a co-investment with Vantage in Surfline Communications, the leading 4G LTE network operator in Ghana. Vantage invested $15m in Surfline from its second fund late last year.
Gunnar Stork, Director Equity & Mezzanine for Africa and Latin America, said “DEG is excited to partner with Vantage in the investment in Ghana. We believe that the investment in Surfline will contribute to improve internet connectivity in Ghana and as such be an important factor to bridge the digital divide.
In addition we are pleased to continue our partnership with Vantage in general by investing in Fund III, after having already been an …read more