Eaton Towers' USD30m for Ghana

TELECOMS

|
Image: By BiztechAfrica
Eaton Towers' USD30m for Ghana

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.”



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE TELECOMS NEWS

Baudin leaves Orange Botswana

Orange Botswana CEO Phillippe Baudin has resigned from the company just one year into his three year contract. Read More

Econet steps up Ebola response

Econet Wireless has been working quietly behind the scenes with various government departments, including the Ministry of Health and Child Care, to prepare Zimbabwe for any possible outbreak of Ebola. Read More

Political uncertainty holds back North African telecoms

Social and political uncertainty is hampering investment in telecoms in North African countries such as Algeria, Libya and Egypt in spite of the evident opportunities, says Frost & Sullivan. Read More

AUC expands connectivity services with Emerging Markets Communications

Emerging Markets Communications (EMC) has announced that the African Union Commission (AUC) has expanded its connectivity services with the company in Africa and renewed its existing contract. Read More

Mixed growth in Kenyan telecoms

The latest industry data released by the Communications Authority of Kenya indicates growth in some areas and a decline in others. Read More

BlackBerry Passport unveiled in Nigeria

BlackBerry Limited has launched the BlackBerry Passport, a new device built for productivity, in Nigeria. Read More

Etisalat’s subscriber figures top 20 million

Etisalat Nigeria has announced that its active subscribers figures have now reached 20 million, upp from 17 million in December last year. Read More

Over 2,000 entrepreneurs become Glo Xchange agents

Nigerian carrier Globacom has signed up over 2,000 entrepreneurs as agents for its massive mobile money initiative.  Read More

Econet: diversification pays off

Econet Wireless Zimbabwe says its strategy to steer the business towards value added services is beginning to bear fruit, as its overlay services showed strong growth in the half year to August 2014.  Read More

Tigo Music ‘Unplugged’ set for 31 Oct

Accra is getting ready to host one of its biggest shows in recent months on Friday, hosted by Tigo Ghana. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionSage HR AfricaMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

Growing African focus on data securityGrowing African focus on data security

Beachhead Solutions’ new SA and Mauritius country manager explains the challenges and solutions around securing customer data and compliance with new personal information legislation.

IN DEPTH

Africa lags on digital migration Africa lags on digital migration

Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.  

COMPANY NEWS

Schneider Electric off-grid, on-profit solutions to create social change in African rural communitie

Schneider Electric South Africa has set itself a target to create access to energy for 20,000 Africans by the end of this year. 

SAP accelerates shift to the Cloud with 41% revenue growth in third quarter

SAP has once again raised its revenue outlook, reporting broad market adoption of SAP HANA and its ‘Run Simple’ strategy validated.