IDC + Wananchi… Driving DTH (SatBroadcasting™)

[SatNews] New contracts and obtained financing will be bringing new services to the sub-Sahara region of Africa…

International Datacasting Corporation (TSX:IDC) has announced a vendor financing package and follow on contracts with the Wananchi Group Ltd., for the rollout of a DTH broadcast service in Africa. The vendor financing package establishes a revolving credit facility for Wananchi and y was developed in cooperation with Export Development Canada (EDC) and a Canadian financial institution. Wananchi Group Ltd. launched the first triple-play network in Africa, and recently added Zuku Satellite to bring video, voice and data services to consumers in the Sub-Saharan region of Africa.

EDC’s July 2010 investment in ATMT under its international equity program, along with this new credit facility, demonstrates EDC’s continued participation in investment opportunities in East Africa. In addition to financing, IDC was awarded two new contracts worth nearly US$1 million. The first contract is a multi-year Support Agreement for equipment and software support, valued at US$299,000 in the first year. The second contract, valued at US$591,000, covers a 12-month period for the supply of Operations and Technical Assistance for the Zuku DTH satellite platform in Kenya. In June 2010, IDC announced an initial contract with Wananchi that includes broadcast products, and IDC Systems Group services for the development, build and roll-out of the network. The contract includes head-end equipment that will enable a satellite-to-set-top box distribution platform for the delivery of a secure broadcast system to homes throughout the region.