EIB lends EUR 20 mln to TV Cabo for Angola network expansion

Mergers, Acquisitions and Financial Results

The European Investment Bank (EIB) will provide a EUR 20 million loan to help expand TVCabo's network in Angola. TVCabo was established in 2002 and is owned by a partnership between Angola Telecom, the national telecommunication operator, and the Portuguese Visabeira Group.

The funds will help Angola expand the existing TV Cabo network in Luanda and several new fast-growing cities in Angola, for the provision of broadband for corporate markets and individual customers. The project will include Luanda, Lobito, Benguela, Lubango, Huambo, Cabinda and Soyo. The investment is to be conducted from 2014 to 2016, and the estimated total cost of the project is EUR 41 million.