Broadband Company Grabs $10m For Wireless Data
TLG CAPITAL, a frontier market investment company, has led a $10 million financing into Ghana’s first and largest indigenous broadband provider, Broadband Home Limited (BBH).
The deal, which is among several fundraising efforts which BBH had put together, is to enable it cover the entire country with its broadband services.
Zain Latif, Founder and Principal of TLG Capital, said: ‘Investing into a dynamic company in a growing sub-Saharan African economy by working with the best class of local banks has enabled us to create financing structures that are scalable throughout the region with the aim of enabling indigenous companies to grow where they otherwise would not be able to.’
Osei Owusu-Korkor, Founder and Chairman of BBH, commented: ‘TLG’s ability to do this deal is very welcoming. In our bid to build a very modern Quad-play network from various sources, TLG has proven to be a partner we can confidently rely on.’
The team at TLG was led by Abbai Belai, who worked with Dominic Clive. Legal advisors include MJ Hudson in the UK and Bentsi-Enchill Letsa & Ankomah in Ghana, while Blue Nile Investments LLP was the lead financial advisor.
Formed in 2009, TLG Capital’s investment holding company structure allows it to efficiently deploy capital to its portfolio companies while maximizing returns to investors.
TLG invests profitably with the caveat that its investments should have a socially beneficial impact.
To date, TLG has made 12 investments and three exits, all above the target return.
BBH, Ghana’s premier data/internet service provider, has become not only the most reputable quality broadband provider in Ghana, but a leading provider of highly sophisticated and intelligent IP services.
The company, which currently plans to deploy 4G TD-LTE technology and expand its consumer network countrywide, is one of four licensed 4G operators in Ghana.
By Samuel Boadi
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