Gateway Group has secured an additional $35 million (€24 million) funding for its sub-Saharan Africa pay-TV operation GTV. The company says this brings the total amount of money invested into the GTV business to $200 million. At the same time, Gateway is selling its telecommunications business to the African mobile operator Vodacom.
Julian McIntyre, founder and managing director of GTV, said pay-TV represented the next great investment opportunity on the African continent. “We have demonstrated our commitment to GTV with almost $200 million of investment to-date and following the extraordinary success since launch, we are committed to further long-term financing”.
GTV is currently available in Botswana, Cameroon, DRC, Ethiopia, Gabon, Gambia, Ghana, Kenya, Lesotho, Liberia, Malawi, Mauritius, Mozambique, Namibia, Rwanda, Sierra Leone, Swaziland, Tanzania, Uganda, Zambia and Zimbabwe, and is commencing a phased rollout across sub-Saharan Africa.
