SatADSL, a Belgian Company providing satellite Internet access and communications service in Sub-Saharan Africa, announced today the successful completion of a capital increase aiming at financing its development over the next 5 years.
SatADSL completed this last round of capital increase against a cash contribution of 1 million Euros by a leading Belgian private equity investor. This investment will be used to support SatADSL growth strategy aiming at connecting thousands of branch offices of African companies in Sub-Saharan Africa with ubiquitous, reliable yet affordable satellite communications.
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“This is a further step in the direction of making SatADSL a big success” says Thierry Eltges, SatADSL CEO.
“We are delighted to work with such an experienced and committed investor which will motivate us to work even harder to fulfill our ambitious business objectives. We are fully committed to offering impeccable quality of service to our African customers and generate value for our shareholders. This capital increase will provide us with the means to support our growth strategy and to further develop our low-cost multi-service delivery platform for the benefit of our African customers. In particular we are proud to help banks and money transfer companies to expand their commercial network of branch offices and to help them providing qualitative financial services to the most remote places. ”