Vantage Mezzanine provides US$30mn to Surfline Communications

SurfSurfline Communications provides wireless broadband services to Ghana's businesses, government agencies, professional and academic communities and residential users. (Image source: Vantage Capital)Africa-based finance provider Vantage Mezzanine has provided US$30mn to Ghana’s Surfline Communications to expand its 4G LTE mobile network in Ghana

Vantage Mezzazine is a mezzazine finance provider. Mezzanine financing is a hybrid of debt and equity financing that is used to finance the expansion of existing companies.

The company said in a statement that the funds will also be used for the expansion of Surfline Communication’s product distribution and marketing network in the region.

“By deploying the first 4G LTE mobile network in Ghana, Surfline will be able to offer high-speed Internet connectivity at rates that are competitive with existing Internet Service Providers,” added the statement.

John Taylor, CEO of Surfline Communications, said that Vantage Mezzanine provided the company with growth capital in a shareholder-friendly structure, which will be required to expand its business.

Luc Albinski, managing partner at Vantage Mezzanine, said, “We are delighted to announce that we have made our third investment outside of South Africa. Over the last five years, Vantage has reviewed over 600 investment opportunities and we consider Surfline Communications to be one of the most exciting deals we have seen.”

Albinski further noted that the investment in Surfline Communications follows Vantage Mezzanine’s pan-African strategy of focusing on African markets such as Ghana, Nigeria, the East African Community (EAC) members and some of the Southern African Development Community (SADC) countries.

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