Telecom and Media in East Africa

Delphos International was hired by East Africa Capital Partners ("EACP"), the Manager of Africa Telecommunications, Media and Technology Fund I ("ATMT") as a financial advisor to assist with its capital raising efforts. In June 2008, Delphos helped EACP close $50 million from the Overseas Private Investment Corporation ("OPIC") in the fastest fund closing in OPIC's history at the time. In 2009, the firm assisted EACP in closing $25 million in equity financing from Emerging Capital Partners for ATMT portfolio company Wananchi Group, the first of multiple closings from EACP over a three year time period (with which Delphos International assisted). Delphos International has also served as financial consultant and advisor for Wananchi Group since 2009, during which time it has assisted the Company with the raising of multiple debt facilities; including a $35 million vendor financing facility from Cisco Capital and Standard Bank, a term loan from PTA Bank, and a vendor financing facility from National Bank of Canada ("NBC"). The NBC facility is for the financing of set top boxes from Wananchi's vendor, International Data Casting ("IDC") of Canada. The facility is covered under IDC's master accounts receivable insurance ("ARI") policy with EDC. In 2012, Delphos International assisted Wananchi Group to close a $72 million senior loan, which received board approval from OPIC in June 2012. Including the OPIC loan, Delphos International assisted ATMT and Wananchi raise over $300 million in committed funds.

Project Details

Client Name: 
Wananchi Group

Location Region: 
East Africa

Industry: 
ICT