Surfline set to receive USD15m investment boost

Mergers, Acquisitions and Financial Results

Ghanaian operator Surfline Communications is set to receive USD15 million in funding from German finance institution DEG, via a co-investment with South Africa-based financial group Vantage Capital. The investment will be used to expand Surfline’s 4G Long Term Evolution (LTE) network, improve its marketing capabilities and enhance its existing distribution channels.

The funding follows on from a previous USD15 million investment in the operator from Vantage in November 2014. Gunnar Stork, director of equity and mezzanine for the Africa and Latin America department at DEG, commented: ‘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.’
Source: Telegeogrphy 30 April 2015