Vantage’s Fund II commits $30 million to Surfline Communications, the first 4G LTE data network in Ghana

A high-speed internet connectivity up to 10 times faster than the average speeds offered by the existing mobile network operators

ACCRA, Ghana, November 4, 2014/ -- Vantage Mezzanine , Africa’s leading mezzanine debt provider, today announced it had concluded a transaction with Surfline Communications to provide $30 million (R330 million) of expansion capital to the company together with a fund co-investor.

The funds will be used for the on-going expansion of Surfline’s 4G LTE network in Ghana as well as to grow its product distribution and marketing network. By deploying the first 4G LTE mobile network in Ghana, Surfline is able to offer high-speed internet connectivity (up to 10 times faster than the average speeds offered by the existing mobile network operators) at rates that are competitive with existing internet service providers. Because the Surfline network does not rely on the limited fixed line telecommunications infrastructure in Ghana, the company is able to rapidly roll-out its services across its coverage area.

Surfline was established to provide wireless broadband and related services to the Ghanaian market, including meeting the emergent and largely unfulfilled data needs of Ghana’s businesses, government agencies, professional and academic communities and residential users. The network achieved a very successful commercial launch in August 2014 and is experiencing tremendous growth in its customer base, in both the consumer and corporate/enterprise segments. Just two weeks ago, Surfline was shortlisted for the award of “Breakthrough LTE Development” category by the Africa Communications Awards for its successful deployment of Ghana’s first 4G LTE network. John Taylor, Surfline’s Executive Chairman, has also been listed in the 2014 World Finance 100, which celebrates 100 individuals who have reached the pinnacle of achievement in their field of expertise.

John Taylor said, “Vantage provided us with growth capital in a shareholder-friendly structure that we required to expand the business by supplementing the existing financing in place.”

Yaw Keteku, Associate Partner at Vantage leading their investment activities in Ghana, said “Under John Taylor’s visionary leadership, Surfline has assembled a team of highly-skilled professionals and technical partners who have built a first class communication network to meet Ghana’s ever-growing data demand. We have developed a close working relationship with the Surfline team and we look forward to supporting the business as it grows.”

Luc Albinski, Managing Partner at Vantage, added “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 to be one of the most exciting deals we have seen.” The investment in Surfline follows Vantage’s pan-African strategy of focusing on high-growth African markets such as Ghana, Nigeria, the East African Community members and some of the Southern African Development Community (SADC) countries.

Surfline is Vantage’s second investment in Ghana after its $18.5 million (R204 million) commitment to Genser Energy, an independent power producer that is currently commissioning a 30 megawatt power plant, which is expected to come on-line shortly. Mutle Mogase, Vantage’s Chairman, said “Vantage, with the support of its investors, is contributing almost $50 million (R550 million) towards the improvement of infrastructure in Ghana by supporting the rollout of a broadband network and new power generation projects. The developmental multiplier effect of increased power generation capacity and high-speed internet will drive further economic growth in the country.”

Surfline is the eleventh mezzanine transaction in Vantage’s second fund, of which more than 80% of available funds have been invested. More than half of the capital deployed has gone into growth projects such as Surfline. Vantage has commenced the raising of its third mezzanine fund, which is targeted to close by the first quarter of 2015 at $250 million (R2.75 billion).

Oxford & Beaumont Solicitors acted as legal counsel to Vantage on this transaction.

Distributed by APO (African Press Organization) 

Africa Intelligence gives a new visual identity to its confidential newsletters

The new design has been conceived for reading on computers and tablets

PARIS, France, November 4, 2014/ -- With restyled logos, more dynamic lay-outs and better defined sections, the Africa Intelligence web portal has modernised its five confidential newsletters: West Africa Newsletter, The Indian Ocean Newsletter, Maghreb Confidential, Africa Energy Intelligence and Africa Mining Intelligence.

The new design has been conceived for reading on computers and tablets. Emphasis has also been put on inter-activity, with numerous articles in the newsletters linked to complementary content on the Africa Intelligence portal. The logos have been produced by Aurélien Meunier of the Nooga agency and the lay-outs by editorial design agency Rampazzo & Associés.

The new visual identity of the confidential newsletters is part of a full digital conversion process started 18 months ago by publishing company Indigo Publications. After launching a mobile application in May, a completely new version of the Africa Intelligence portal will be put on line at the start of 2015.

These changes will enable Africa Intelligence to maintain the strong editorial ambition which has been its trademark since 1996, with exclusive information in English and French about the people, business networks and political forces at work in Africa.

The launch of this new formula comes with an attractive commercial offer in the form of an exceptional 40% reduction on the subscription price for 15 days. Free download of the newsletters is also being offered to readers who want to get an idea of their new visual identity.

The Africa Intelligence portal is published by Indigo Publications, an independent press group set up in Paris in 1981 by a group of journalists. Often styled “the smallest international press group in the world”, it also edits three other websites, Intelligence Online (http://www.intelligenceonline.com), La Lettre A (http://www.lalettrea.fr) and PresseNews (http://www.pressenews.fr). The group makes no use of advertising or subsidies and draws all its resources from its readers.

Distributed by APO (African Press Organization) 

Vivo Energy Ghana Rewards Shell Customers in First Draw

There will be another mini draw in November with Motorists winning a sleek Hyundai i10 vehicle each and a Hyundai Accent as the ultimate prize

ACCRA, Ghana, November 3, 2014/ -- Vivo Energy Ghana  the company that distributes and markets Shell-branded fuels and lubricants, has rewarded 31 customers who won various promotional items including a brand new Hyundai i10 in the first mini draw of the Shell Akyede Kese Promotion.

Ms. Grace Appiah a worker at the Suntreso Government Hospital in Kumasi who won the brand new Hyundai i10 expressed her excitement at winning the ultimate prize in the first draw and lauded Vivo Energy Ghana’s effort to reward its customers.

“I am a loyal customer of Shell and always buy my fuel at Harper Road Shell Service Station in Kumasi. I still couldn’t believe that I had won the brand new Hyundai i10 car, until I came to witness the event. I can testify that Shell fuels are of good quality and want to encourage other Motorists to fuel their cars at Shell” says Ms. Grace Appiah.

Presenting the Prizes, the Head of Distribution for Vivo Energy Group and the Acting Managing Director of Vivo Energy Ghana, Mr. Ebenezer Faulkner said the Shell Akyede Kese Promotion was launched in October, to reward Shell customers and offer Motorists a memorable customer experience at the forecourts.

“The Shell Akyede Kese is a promotion designed to celebrate our customers in a big way. That is why we are giving away three Hyundai cars from Stallion Motors and other 40,000 fantastic prizes. We encourage Motorists to buy from Shell Service Stations to win all the exciting prizes and enjoy fuel savings as well.”

Mr. Ebenezer Faulkner said Shell’s quality fuels including Shell V-Power, Shell Diesel and Super Extra are backed by the unique technological expertise and decades of research and development by some of the best scientists around the world, all working to help Motorists get the most out of every drop.

Other winners in the first draw includes Mr Francis Ahlijah and Owusu Agyeman who won LED Flat screen Television set and a Tablet respectively. Some winners also took home smart phones, free fuel, free shopping vouchers among other amazing prizes.

The Shell Akyede Kese promotion continues and for each visit to a Shell Service Station, Motorists are required to buy a minimum of GH¢60 worth of fuel to qualify for a coupon. They then type Shell, leave a space and then the secret code on the coupon and text to 1406 from all networks to enter the draw.

There will be another mini draw in November with Motorists winning a sleek Hyundai i10 vehicle each and a Hyundai Accent as the ultimate prize for the final draw in December.

In addition, there will be activations at selected Shell Service Stations across the country where motorists will win instant prizes when they visit these stations between 11am and 2pm. The selected sites will be announced on radio in the course of the promotion.

Vivo Energy Ghana is proud to be the leading provider of Shell’s differentiated fuels offering numerous benefits including improved engine performance and reduced fuel consumption-giving customers extra kilometres and extra engine protection at no extra cost. Go well Go Shell!

Distributed by APO (African Press Organization) 

African Economic Conference: Video and audio recording of the online press conference of the Chief Economist of the African Development Bank held on Sunday at 14:00 GMT

ADDIS ABABA, Ethiopia, November 2, 2014/ -- The Chief Economist and Vice-President of the African Development Bank has held an online press conference on Sunday at 14:00 GMT during the 9th edition of the African Economic Conference (http://www.afdb.org/en/aec-2014).

Bernardo Bertolucci heads up the distinguished jury that chose the winners of the Action4Climate documentary competition

WASHINGTON, October 31, 2014/ -- Ten young film crews from ten different countries were chosen as winners in the Action4Climate documentary competition (http://www.connect4climate.org). Their outstanding and unique films inspire the world to take action on climate change.

“These talented young film makers connect to their audience in emotional and powerful ways about the dangers of climate change. They have done serious, important work, which shows that climate change could result in a world that is unrecognizable today, and that we need act now to protect the planet for future generations.”  Jim Yong Kim, President, World Bank Group

The Action4Climate competition was launched in early 2014 by Connect4Climate (www.connect4climate.org), the global climate change communications program. It attracted hundreds of entries from all around the world. Italian film director and screenwriter, Bernardo Bertolucci, chaired a renowned jury of film makers tasked with choosing winning films in two age categories.

“We were amazed by the originality of the stories and the genuine concern shown by these young film makers about the effects of climate change. They described the effects of climate change from hundreds of different points of view. Selecting winners was an almost impossible task.”  Bernardo Bertolucci

In the 18 -35 age category, the $15,000 top prize went to the Portuguese film maker Gonçalo Tocha with his provocative film “The Trail of a Tale”. This inspiring story revolves around a letter written in the future to society today. Dobrin Kashavelov from Bulgaria won second place cash prizes of $10,000 with “Global Warning,” a harrowing film about the catastrophic effects on survivors of last year’s typhoon Haiyan in the

Philippines. Third place $5,000 prize was awarded to American filmmaker Nathan Dappen for “Snows of the Nile”, a documentary following Nathan’s adventures uncovering indisputable evidence of the fast disappearing glaciers of Uganda’s ‘mountains of the moon’.   

“I am immensely proud to be chosen as the winner and really hope my film helps people realize that we need to act now to protect our future.” Gonçalo Tocha

In the younger 14 -17 age group, “The Violin Player” took top spot. This beautifully animated film was the brainchild of Francina Ramos, a young Argentinian film maker and her co-producer/composer Benjamin Braceras. Second place went to “Facing the Flood” by Constantin Huet from Switzerland, an investigative account of the changing conditions in Greenland and the Maldives. Georgia’s Tura Tegerashivili was awarded third place for the whimsical “It’s Easy if You Try”. All prize winners receive production equipment and software to help them hone their skills and talents and inspire them to create more climate change stories.

“What an amazing honor! I am so excited. I hope The Violin Player makes people want to stand up and tackle climate change.” Francina Ramos

The jury is made up of filmmakers Atom Egoyan, Marc Forster, Mika Kaurismaki, Fernando Meirelles, Mira Nair, Bob Rafelson, Walter Salles, Pablo Trapero and Wim Wenders, along with film executives Rose Kuo and Cynthia Lopez, and World Bank Vice President and Special Envoy for Climate Change, Rachel Kyte.  They felt the standard in the competition was so high that a special prize was awarded to “Balud” by Panx Solajes from the Philippines, for his creative personal reflection devastating floods caused by climate change.

Connect4Climate also decided that two submissions should be recognized for their ability to present local stories that also have a profound global impact. Special Connect4Climate prizes are awarded to “Tinau” from UK/Kiribati producer Victoria Burns, exploring the grave concerns of small island nations such as Kiribati, and “The Change,” a touching portrayal of the effects on young people in a Vietnamese coastal community made by filmmakers Ha Uyen, Huong Tra, Quang Dung and Quang Phuc. A People’s Choice Prize voted for by the public was won by a team from Brazil for their film “Pachamama” depicting the effects of global warming in Sao Paulo.

Prizes for the competition were graciously provided by Edison, the Italian power company, and the European Bank for Reconstruction and Development. In addition, Vimeo, the video sharing website, is enthusiastically donating Vimeo Plus accounts for one year to all the finalists from developing countries.

The winners will be announced on October 30th at the Sustainia “100 Solutions” Award Ceremony in the Royal Theater, Copenhagen, celebrating the creation of new solutions for sustainable living. The general public can then see a selection of videos from winners and finalists online and on television, as well as at festivals and events.

“Connect4Climate was tremendously excited by the amount of interest shown in the competition from around the world. It demonstrates the level of concern shown by creative young people and their desire to be involved directly in exposing climate problems and finding lasting solutions. We were also gratified to experience the seamless coming together of international organizations, the private sector and civil society to support and promote the competition ”  Lucia Grenna, Program Manager, Connect4Climate

It is envisaged that the high standard of the Action4Climate documentaries will help promote greater climate change awareness and inspire viewers to action.

The winning films can all be viewed at www.Action4Climate.org

Horizons on Bloomberg TV Africa to showcase cutting edge science and technology that solves challenge

JOHANNESBURG, South Africa, 6 November 2014 – Today, DuPont, a science company that brings world-class, innovative products, materials and services to the global marketplace, will introduce Horizons on Bloomberg TV Africa.

This program will be the first series to focus on science and innovation on the African continent, and will showcase cutting-edge African science and technology as well as examples of companies collaborating to ensure Africa’s growth.

According to DuPont, to grow the African economy and tackle the demands of the growing population in the region, science and innovation needs to be centre stage.

“The world is facing unprecedented challenges brought by the needs of a growing population. As the world population grows, pressure on necessities such as energy, food and safety continue to intensify.  We believe that science and technology can and must be used to overcome these challenges and Africa has a big role to play in addressing these issues,” says Dr Richard Okine, President of DuPont Sub-Saharan Africa.

DuPont produced stories of inclusive innovation that will air during the program’s commercial break. Filmed around the African continent, the stories highlight global collaborations that reflect how businesses, governments, non-profits and academia are working together with DuPont to solve Africa’s greatest challenges.

Viewers can watch the premiere of the Horizons Africa series on Bloomberg TV Africa, DStv Channel 411 today at 21:00. The program will be broadcast in the same time slot every Thursday until 25 December 2014. Reruns will be aired during January to April next year.

The launch episode will feature the innovative invention by biotechnologist from Cape Town, Ashley Uys, showcasing her rapid HIV and malaria tests that indicate within 30 minutes if treatment is effective. The episode is one of eight documentaries that will be featured.

Boosting crisis response and financing key for Africa’s continued progress

Tackling vulnerabilities should be at the center of continent’s development efforts

Addis Ababa, 1 November – While an increasing number of Africans are enjoying higher living standards, countries in Sub-Saharan Africa should redouble efforts to ensure crises such as the current Ebola outbreak in West Africa do not reverse development achievements, according to a report released here today during the African Economic Conference.

Africa’s poverty rates have continued to decline, despite the adverse effects of the recent food, fuel, and global economic crisis, says “Assessing Progress towards the Millennium Development Goals (MDGs) in Africa”, produced annually by the African Development Bank (AfDB), the Economic Commission for Africa (ECA), the African Union Commission (AUC) and the United Nations Development Programme (UNDP).

However, conflict, political instability and natural or man-made disasters threaten to unravel the progress made on the MDGs, the eight internationally-agreed targets to reduce poverty, hunger, maternal and child deaths, disease, gender inequality and environmental degradation by 2015.

“Even after societies recuperate, the potential for development remains impaired long after the crises are over, as human capital is depleted and institutions are weakened,” say the authors of the report. The current Ebola crisis in West Africa, a region that was experiencing significant growth and development progress, is threatening to set back affected and surrounding countries by several years.

“Our sisters and brothers in Liberia, Guinea and Sierra Leone are facing grave challenges, as they fight and battle the Ebola Virus Disease, which over the last few months so abruptly halted their path towards development and reconstruction,” said African Union Commission Chairperson, Nkosazana Dlamini Zuma.

The challenge for the region, says the report, is to ensure continued good governance and accountability, and a sustained focus on social protection for all, including the most vulnerable. The latter are often the hardest hit by crises and shocks.

About 37 countries were implementing cash transfers, public works programmes or insurance schemes in 2013, up from 21 three years earlier and many are in the process of bolstering their health systems and these have had considerable positive consequences.

Stronger partnerships and domestic financing, with strong support from the private sector, are key to furthering improvements in living standards.

“The private sector has a huge role to play in finishing the business of the MDGs and sustaining progress beyond 2015. In fact, part of the work will consist in making sure future investments are safeguarded in the face of crises like the one we are seeing in West Africa,” said Donald Kaberuka, President of the African Development Bank (AfDB).

Over the 1995–2012 period, Africa has made considerable improvements on health-related MDGs. HIV and AIDS prevalence fell from 5.8 to 4.7 percent, owing to strong political will, focused interventions and increased access to antiretroviral therapy. Incidence of malaria and death rates related to the disease fell by an average of 31 percent and 49 percent respectively in Southern, East, Central and West Africa as a whole.

Maternal and child mortality have declined by 47 and 44 percent respectively. That progress is considerable, argues the report, but it falls short of the objective and reflects dire initial conditions, plus limited access to contraceptives and lack of skilled birth attendants and antenatal care.

“The challenge is to make sure Africa, supported by international partners, continues to invest in the sectors that make a difference in people’s daily lives”, said Abdoulaye Mar Dieye, UNDP’s Director for Africa. “A healthy and educated population, stronger communities, inclusive decision-making, better local service delivery, vibrant economies and businesses: these are all needed for Africa to continue to forge ahead.”

The continent is currently on track to meet the primary school enrolment and gender parity targets, with 25 countries achieving net enrolment ratios of 80 percent or above. Gender equality is also on the increase in national parliaments, with the continent ranking third in the world behind Latin America and developed regions.

Further, the report recognizes the importance of the Common African Position on the post-2015 development agenda that outlines Africa’s key priorities, concerns and strategies to be reflected in the post-2015 negotiation process.

“Making sure African economies can transform, diversify and become an engine for job creation and empowerment of communities is key to achieving long-term social progress,” says Carlos Lopes, Executive Secretary of ECA.

Technology, transfer of skills for young women and men, research and development and public-private partnerships have an important role to play in creating dynamic economies and societies, and ensuring countries in Africa can continue to advance.