Gateway to roll out English Premier League pay TV service

Gateway Telecommunications Plc, a provider of telephone services in Africa, has raised $40 million to roll out a pay-TV service that will broadcast English Premier League soccer games to sub-Saharan Africa. GTV, the satellite pay-TV service which will also offer other sports programs, entertainment and news, will be launched in East Africa later this month. Gateway then intends to make it available to 48 sub-Saharan African countries.

GTV will broadcast 80 percent of Premiership soccer games live, the company said in a statement.

Gateway currently provides services to telephone companies and businesses in Africa, as well as to international companies that operate there.

The latest fundraising takes the total amount raised by the company to $187.5 million in the last seven months, including $147.5 million from the European high yield bond market.

The additional $40 million has been invested directly in Gateway Broadcast Services, a separately managed subsidiary of the firm.

New investors include Citigroup, Swedish investment firm Kinnevik, Noonday Global Management and Avenue Investment Management, Gateway said in a statement.