Private media group StarTimes is looking to have a subscriber base of 20 million for its digital TV programs in Africa in the next five years, a top company official said on Thursday.

"We are confident on growth as several African nations are planning to shift from analog to digital TV signals. We plan to roll out our digital TV programs to 30 African nations in the next five years," said Chief Executive Pang Xinxing, ruling out reports that the company was facing financial problems.

The Export-Import Bank of China has provided a loan of 1 billion yuan ($163 million) to help the firm expand its presence in African broadcasting and radio sectors from 2012 to date, and the bank has approved another $60 million loan recently for further expansion, according to Ma Yan, deputy governor of the Beijing branch of the bank.