| 5.5°C Dublin

Desmond backs Niall Quinn's Q Sat

Close

GOING ALL OUT FOR AFRICA: Niall Quinn and his wife Gillian. Photo: Michael Chester

GOING ALL OUT FOR AFRICA: Niall Quinn and his wife Gillian. Photo: Michael Chester

GOING ALL OUT FOR AFRICA: Niall Quinn and his wife Gillian. Photo: Michael Chester

Billionaire financier Dermot Desmond has helped assemble a group of Irish and overseas investors who are backing Niall Quinn's satellite broadband business Q Sat in its expansion into East Africa.

The investors put about €740,000 into the company via a British Virgin Islands company called Maxillian SA last year, according to the Companies Office.

This seed money is now being used by Q Sat to explore exciting opportunities in East Africa, where in rural areas especially access to broad-band remains low.

Q Sat, which has opened an office in Kenya, is part of an Irish team seeking to develop broadband in Kenya and Uganda along with Altobridge, the Tralee-based communications technology company, as well as Intel, the global chip giant.

The identities of the individual investors in Q Sat's fundraising are not known.

Desmond did not return requests for comment. Quinn, a former international footballer and chairman of soccer club Sunderland, also declined to comment.

Business Newsletter

Read the leading stories from the world of business.

This field is required


Most Watched





Privacy