Eaton Towers' USD30m for Ghana
TELECOMS| Jan. 13, 2012, 10:42 a.m.
Standard Bank Group, acting through Stanbic Bank Ghana and Standard Bank South Africa, has provided a debut debt financing for Eaton Towers Ghana Limited.
The transaction was signed on 22 December 2011 and provides for a 5-year senior secured term loan facility to fund the enhancement and upgrade of towers under a Site Sharing and Maintenance Agreement contract with Vodafone Ghana. It will fund further capital expenditure in relation to the build-out of up to 300 additional wireless towers in Ghana.
Paul Shang, Global Head of Investment Banking for Standard Bank Group says: "This transaction for Eaton Towers demonstrates our dedication and expertise in the African telecoms infrastructure sector. The cooperation between our local franchise and our international operations ensured that we could structure and deliver a debt facility that was tailor-made to Eaton Towers taking account of local practices and international lending standards. We are looking forward to supporting the Eaton Towers Group grow its business across Africa."
Peter Lewis, Chief Financial Officer of Eaton Towers, says: "We are delighted to have completed our first bank debt financing with Standard Bank Group. Given our strong deal pipeline and the interest we are seeing from financial and development institutions, we are confident that this will be the first of many such financing deals. This debt facility is an endorsement of our business model and demonstrates our ability to leverage our assets in Africa in a highly efficient way.”
MORE TELECOMS NEWS
Mayor opens new ICT shopHer Worship the Mayor of Francistown has opened the doors of a new ICT initiative in Francistown, in the form of a shop from the country’s leading mobile communications provider, Mascom. Read More
Africell, Airtel on collision course over cableUganda’s Africell is set for a legal battle with Airtel as the two trade accusations over the theft of fibre optic cables. Read More
Vodacom coasts home with two industry awardsVodacom Business Nigeria has won two prestigious awards at the Beacon of ICT (BoICT) Awards ceremony. Read More
Vodafone Ghana to reward whistleblowers on cable theftVodafone Ghana is enlisting the help of the general public to help curb cable theft across the country. Read More
MTN Cameroon renews subscriber identificationMTN Cameroon has launched a nationwide campaign that will run until June 2016 to confirm the identity of each subscriber. Read More
Dairo, Ogiemwanye, Uwaoma now Directors at Etisalat NigeriaEtisalat Nigeria has announced the appointment of Adeolu Dairo as Director, Consumer Segment, Elvis Ogiemwanye as Director, Brand & Experience and Eric Uwaoma as Director, Enterprise Segment. Read More
Kenya Power, Safaricom in broadband projectKenya Power International and Safaricom have signed a MoU that will see more Kenyans connected to broadband Internet. Read More
MTN Ghana undertakes 4G LTE site testingMTN Ghana says it has started testing over 60 cell sites located in four different regions of Ghana to pave the way for a successful 4G LTE launch in the third quarter of this year. Read More
Ghana’s President unveils MTN House in AccraGhana’s President, John Dramani Mahama, has officially opened the multimillion dollar new headquarters of Ghana’s telecom giant MTN at a colourful ceremony held in Accra. Read More
FEATURED STORYCriticism over Remita borne out of ignorance, says SystemSpecs
The CEO of SystemSpecs, the company behind the revenue-saving Nigerian Single Treasury Account (TSA) system, speaks to Biztechafrica.
BEST READ NEWS
IN DEPTHIBM Opens First Cloud Data Centre in South Africa
IBM is opening a new IBM Cloud Data Centre in Johannesburg, South Africa. The new cloud center is the result of a close collaboration with Gijima and Vodacom and is designed to support cloud adoption and customer demand across the continent.
COMPANY NEWSRSA research reveals blind spots in threat detection
RSA, The Security Division of EMC, has released the results of a new Threat Detection Effectiveness Survey.Networks Unlimited event highlights SimpliVity's new Omnistack Software
Leading data protection focused distributor invites hyperconverged vendor to discuss disaster recovery and data protection.