Ghanaian operator Surfline Communications has secured USD30 million worth of funding from South African risk capital firm Vantage Mezzanine, alongside a co-investor. According to a joint press release, the capital will be used for the ongoing expansion of Surfline’s 4G Long Term Evolution (LTE) network in the country. John Taylor, executive chairman at Surfline Communications, said: ‘Vantage provided us with growth capital in a shareholder-friendly structure that we required [in order] to expand the business by supplementing the existing financing in place.’
According to TeleGeography’s GlobalComms Database, Surfline Communications was established in 2011, and contracted French-US vendor Alcatel-Lucent in July 2013 to deploy a commercial LTE network. In June 2014 Surfline trialled the technology via its ‘Press Play’ testing programme, which allowed participants in selected areas of Greater Accra to receive free connectivity in exchange for their feedback on the service. The Frequency Division Duplexing LTE (FDD)-LTE network was commercially deployed in Accra and Tema in August 2014; subscribers can access theoretical download speeds of up to 100Mbps.