The Company was founded by Next Generation Broadcasting AB (“NGB AB”). NGB AB’s founders built Boxer, the first DTT provider in Sweden, and raised $62 million from the Sixth Swedish National Pension Fund to expand DTT services to Asia, Africa and Latin America. Ghana is the first country to be launched in Africa, to be followed by Kenya, Uganda and Tanzania. NGB AB is the Sponsor of the Project.

Total Project cost is estimated at US$60 million, to support the Company’s launch operations in Africa, starting with Ghana. IFC investment: up to US$15 million in equity and/or mezzanine instruments.

2.50 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	2.50

* These investment figures are indicative

Ghana, Kenya, Tanzania, Uganda.

The Project is expected to have the following important development impacts: (i) By increasing the reach of TV broadcasting services to the broader population, the Project will increase access to information for the poor. Increased access to information means increased access to knowledge, increased access to knowledge means increase in opportunities. (ii) The Project will contribute to the development of more competitive media in Africa through supporting the expansion of a private TV broadcaster to new cities that are currently either serviced by national public broadcasting or unserviced at all. (iii) The Project will contribute to the growth of the African advertising industry by providing an additional outlet on which enterprises can promote their services and products thereby increasing awareness and sales. Studies have shown that a thriving advertising sector is correlated with overall economic advancement, increased competition, enhanced quality and expanded quantity of product and service offerings, local job creation, and poverty reduction. (iv) NGB is expected to broadcast world-class, high quality and relevant content. (v) Through the Project, additional jobs will be created and technical and sales capabilities will be nurtured. (vi) The Project will help the company put in place a best practices guideline for operating in the media sector. The guideline is currently being prepared by GICT. (vii) The Project will not only have a significant direct positive employment effect as the Company grows, but will also create important upstream and downstream employment opportunities. NGB growth will create additional demand for labor in technical fields, in the advertising sector and in the creative industries sector. The latter sector, in particular, is one which has not been addressed by IFC financing and trust fund activities in the past, despite the fact that more than 60% of the sector is comprised of SMEs and individuals.

(i) Provide corporate governance support. IFC involvement and the role that it will play in improving governance procedures and practices will provide comfort to prospective strategic investors and will increase the market appeal of the Company, thereby attracting investors, clients and partners on more favorable terms than without IFC participation. (ii) Provide long-term funding & capital structure advice. By providing long-term funding, IFC will improve the capital structure of NGB. Without the Project, NGB would not have access to financing at the same tenor, thereby requiring a much longer timeframe to make its investments and losing the important first mover advantage. The Company will benefit from IFC expertise in recommending a suitable financing structure for the Project. (iii) Global Expertise and Advisory Services. The Company will benefit from IFC global expertise and will also benefit from the Media Best Practice Guidelines which IFC is currently developing. The Company will also benefit from IFC Advisory Services team, who can play an important role, including training support to employees and distributor financing advice for dealers. (iv) Support the regional expansion strategy of the Sponsor in Africa. IFC knowledge of the local regulatory, commercial and financial markets, as well of the potential local partners, will help the Sponsor ensure that these additional projects are built on strong foundations.

Environmental benefits are expected from this project''s contributions to the analog-digital transition, as digital transmissions and receivers tend to use considerably less materials and energy. Under IFC''s investment, NGB Africa will ensure compliance with IFC Performance Standards, including prompt reporting of any incidents to IFC, and limits on the transmission of adult entertainment. Due to the low level of environmental and social risks and impacts in this project, it is classified as Category C according to IFC''s environmental and social review procedure.