Gateway Broadcast Services, a subsidiary of Gateway Telecommunications, has raised an additional $40 million as it looks to make GTV – its new pan-Africa, direct-to-home (DTH), pay-TV service – a success on the continent.

GTV aims to be Africa’s first widely accessible pay-TV service when the service launches this month in East Africa.

The effort marks the third significant fundraising program completed by the telco throughout the last few months: In November 2006 it raised $115 million from the European high-yield bond market, and in May it raised another $32.5 million to finance the acquisition of GS Telecom, an African provider of data connectivity services to corporate customers.