Summary of Proposed Investment
Project Number
25808
Company Name
UNITEL T+ TELECOMUNICACOES S.A.
Date SPI Disclosed
Oct 1, 2007
Country
Africa Region
Industry
Telecommunications and Technology
Projected Board Date
Oct 31, 2007
Status
Completed
Sector
Mobile Telephony
Department
WBG Digital and AI
Environmental Category
B - Limited
Previous Events
Approved : Dec 11, 2007
Signed : Dec 19, 2007
Invested : Apr 25, 2008
Project Description
The project consists of the build out of a GSM mobile telephone networks in Cape Verde sponsored by Teylium Telecom (TT), a West African GSM mobile holding company. TT is fully owned and controlled by Yerim Sow, a Senegalese national who has been active in telecoms in Francophone West Africa since 1994. TT purchased 70% of T Plus S.A. (T Plus) in 2006.
IFC has been asked to play a lead role in the $16 million equivalent project’s financing by providing up to $5.55 million equivalent in the form of a senior A loan of up to $3.8 million and a C loan of up to $1.75 million. T plus is a greenfield GSM operation in Cape Verde, which was issued the second GSM license (10-year term) by the Cape Verdean Communication Agency in January 2006 and expects to launch operations in late 2007.
In April 2006, TT acquired a 70% controlling stake in T Plus with the remaining shareholders being held by:
- Alexander Group Telecommunications (AGS Telecom) (15%); and
- Marco Bento (15%), a local Cape Verdian investor, who was the original founder of T Plus.
AGS Telecom, wholly-owned by its founder Mr. Alexander Yamandou, is a registered New York company, providing voice, internet and satellite services in the United States and Africa.
Total 2007-2008 project cost for T Plus is $15.0 million equivalent, to be financed with sponsor equity/shareholder loans, the IFC loans and an additional $5.0 million in debt to be mobilized by the sponsor.
IFC has been asked to play a lead role in the $16 million equivalent project’s financing by providing up to $5.55 million equivalent in the form of a senior A loan of up to $3.8 million and a C loan of up to $1.75 million. T plus is a greenfield GSM operation in Cape Verde, which was issued the second GSM license (10-year term) by the Cape Verdean Communication Agency in January 2006 and expects to launch operations in late 2007.
In April 2006, TT acquired a 70% controlling stake in T Plus with the remaining shareholders being held by:
- Alexander Group Telecommunications (AGS Telecom) (15%); and
- Marco Bento (15%), a local Cape Verdian investor, who was the original founder of T Plus.
AGS Telecom, wholly-owned by its founder Mr. Alexander Yamandou, is a registered New York company, providing voice, internet and satellite services in the United States and Africa.
Total 2007-2008 project cost for T Plus is $15.0 million equivalent, to be financed with sponsor equity/shareholder loans, the IFC loans and an additional $5.0 million in debt to be mobilized by the sponsor.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Malick F. M. GUEYE
CEO Teylium Telecom
33, avenue du Général de Gaulle
01 BP 8583 Abidjan 01, Abidjan
Côte d’Ivoire
+225 20 25 97 97
CEO Teylium Telecom
33, avenue du Général de Gaulle
01 BP 8583 Abidjan 01, Abidjan
Côte d’Ivoire
+225 20 25 97 97
For Inquiries and Comments About IFC, Contact
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster