TV Africa

completed

IFC has been requested by Africa Media Group Ltd. ("TV Africa") to assist in the equity financing of its development program. Based in Johannesburg, South Africa, TV Africa produces and broadcasts, free to air, high quality programming targeted at African audiences via a pan-African network. TV Africa''s network provides advertisers and sponsors with a single point of access to an audience of up to 110 million viewers. As the first and, to date, only free to air broadcaster with a continent-wide reach, TV Africa is positioned to be a convenient point of access through which international advertisers can access a fragmented market that is often difficult to reach. TV Africa has expanded its affiliate base from four affiliates in four countries (Botswana, Kenya, Uganda and Zimbabwe) in July 1998, to the present 41 affiliates, including 32 full-time affiliates and 9-part time affiliates, in 23 sub-Saharan countries. IFC''s financing will assist the company with its ongoing development program by providing capital with which the company can finance the continued development of its affiliate network, purchase and produce content, secure programming rights, install additional infrastructure, and finance start-up costs and working capital requirements.