Vantage contributes to 4G LTE network expansion in Ghana

4 Nov 2014

African mezzanine debt provider, Vantage Mezzanine has provided $30m of expansion capital to Surfline Communications together with a fund co-investor in order to further expand Surfline's 4G LTE network in Ghana as well as to grow its product distribution and marketing network.

Vantage contributes to 4G LTE network expansion in Ghana

By deploying the first 4G LTE mobile network in Ghana, Surfline is able to offer high-speed internet connectivity (up to 10 times faster than the average speeds offered by the existing mobile network operators) at rates that are competitive with existing internet service providers. Because the Surfline network does not rely on the limited fixed line telecommunications infrastructure in Ghana, the company is able to rapidly roll-out its services across its coverage area.

John Taylor, Surfline's Executive Chairman, said, "Vantage provided us with growth capital in a shareholder-friendly structure that we required to expand the business by supplementing the existing financing in place."

The investment in Surfline follows Vantage's pan-African strategy of focusing on high-growth African markets such as Ghana, Nigeria, the East African Community members and some of the Southern African Development Community (SADC) countries.