CSquared

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 The project is for a new company, CSquared Link Holdings (Mauritius) Limited (“CSquared” or the “Company”), to be formed as a partnership between IFC, Google Inc., Mitsui & Co., Ltd., and Convergence Partners Communication Infrastructure Fund (each, an “Investor”) to build metro fiber networks in Sub Saharan Africa (“SSA”) (the “Project”) to create shared infrastructure for broadband operators.   Google will contribute seven companies to the Company in in exchange for cash and equity in the Company: CSquared Ghana, CSquared Uganda, CSquared (Uganda) Holdings, CSquared DRC, RDC Connect, Moja Access (Kenya), and CSquared Liberia, two of which have been actively operating on the ground in Africa – CSquared Ghana and CSquared Uganda have implemented fiber-optic network projects in Kampala and Entebbe in Uganda with 800 total kilometers of underground fiber, and in Accra, Ghana with 840 total kilometers of underground fiber.  CSquared will utilize lessons of experience from those existing operations, and will establish new subsidiaries in each new country to which it expands.  The Project will initially involve the development of the existing operations in Uganda and Ghana with the goal of expanding into new markets in Sub-Saharan Africa.  During this initial phase, IFC will provide an initial equity investment of US$15 million. CSquared will then serve as a platform to expand into new markets with additional investments in the Sub-Saharan Africa region in the future. Additional markets in Sub-Saharan Africa are expected to be determined based on further review and approval by the Partners.  Warehouse services will be provided by third parties; equipment will be located with other companies’ equipment in leased spaces; office spaces will be leased.