Monday , June 17 2024

Asia’s Richest Man Mukesh Ambani Enters Ghana’s Telecom Market with 5G Partnership

Mukesh Ambani, Asia’s richest man with a net worth of $92 billion, is making a significant investment in Ghana’s telecommunications market.

His company, Radisys Corp., a subsidiary of Reliance Industries Ltd, is partnering with Ghana’s Next-Gen InfraCo (NGIC) to enhance the country’s telecom infrastructure with 5G technology, according to a Bloomberg report.

This collaboration will involve Radisys Corp. providing NGIC with essential network infrastructure, applications, and smartphones. Harkirit Singh, executive director of NGIC, announced the development ahead of the official launch in Mumbai, India’s financial hub.

NGIC plans to offer 5G broadband services to Ghanaian mobile users and internet service providers, aiming to commence operations by the end of the year.

Singh highlighted the company’s mission to provide affordable digital services in emerging markets like Ghana, a country with 33 million people currently served by major telecom operators MTN Ghana, Vodafone Ghana, and AirtelTigo.

Holding Ghana’s sole 5G license, NGIC is well-positioned to deliver large-scale broadband services, leveraging strong partnerships and technological expertise.

The company is 55% owned by two African telecom firms, Ascend Digital Solutions Ltd. and K-NET, with the Ghanaian government holding a 10% stake. The remainder is owned by private investors and local operators.

Ambani’s move is seen as a strategic effort to boost Indian influence in Africa and counterbalance China’s dominant presence in the region.

With Nigeria being Africa’s largest telecom market, growing at a 7% year-on-year rate, similar investments could foster competition and enhance service value for consumers across the continent.

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