• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Billionaire Ambani sets sight on Ghana, other African countries with new telecom venture

1 year ago
in Business, Features, highlights, Home, home-news, latest News, Telecom
2 min read
0 0
0
142
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Billionaire Ambani sets sight on Ghana, other African countries with new telecom venture

Asia’s richest man Mukesh Ambani is set to enter Africa with a telecoms venture, seeking to win mobile broadband customers in a high-growth market.

Radisys Corp., a unit of Ambani-controlled Reliance Industries Ltd., will provide key network infrastructure, applications and smartphones for Ghana-based Next-Gen InfraCo., according to Harkirit Singh, the executive director of NGIC. He described the plans ahead of NGIC’s launch announcement on Monday in Mumbai, India’s financial hub.

NGIC, which is planning to begin operations by the end of this year, will provide 5G broadband services to mobile operators and internet services providers in Ghana.

The company “is based on a premise of building affordable digital services in emerging markets,” Singh told Bloomberg News.

Other strategic partners in NGIC include Nokia Oyj, Indian outsourcer Tech Mahindra Ltd. and Microsoft Corp., which has increasingly sharpened its focus on the telecoms business following an acquisition of two cloud networking firms in 2020.

Ghana, a West African country with a population of just over 33 million, has three main operators: MTN Ghana, Vodafone Ghana and state-run AirtelTigo. NGIC’s strategic partners, its technological prowess and the company’s possession of Ghana’s only 5G license will help it build broadband services at scale, a huge expense for individual mobile carriers, Singh said.

RelatedPosts

MLS Playoffs 2025: A Look Ahead to the Exciting Postseason

Michael Jordan Rookie Card Sets New Record with $2.7 Million Sale

BoG Pegs Ghana Gold Coin at GHS 47,551 per Ounce

Two African telecoms firms — Ascend Digital Solutions Ltd. and K-NET — hold a combined stake of 55% in the new company, said Singh. The Ghana government will own just under 10% of NGIC, while local mobile operators and private investors will retain the remaining shares in the firm. Singh is also the chief executive of Ascend.

NGIC has the exclusive right to offer 5G services in Ghana for a decade, though its license is valid for 15 years. The company’s capital expenditure for three years is $145 million, according to Singh.

The company is looking to emulate the success of Ambani’s Jio Infocomm Ltd. in India. Jio launched telecoms services in India in late 2016 with low-cost data and free voice calling, forcing some rivals to shut down and others to consolidate. It is widely credited for making mobile data affordable to hundreds of million of Indians. Jio is currently India’s biggest mobile operator with 470 million users.

NGIC will provide “affordable mobile broadband services and devices to the people of Ghana, replicating the success of India’s low-cost mobile data revolution,” Ghana’s Minister for Communications and Digitalization Ursula Owusu-Ekuful said in a statement.

The Reliance-NGIC partnership is also a diplomatic win for India, which has sought to counter China’s surging influence in Africa via measures such as digital inclusion.

None of the strategic partners, including Reliance, currently own any equity in NGIC. But the company will give them an option to accept part of their payments as equity in the future, Singh said.

“First we have to be successful to show the value that we create before they come in,” Singh said. “That’s the discussion we’re having with them.

Source: bloomberg
Via: norvanreports
Tags: Billionaire AmbaniBillionaire Ambani sets sight on Africa with new telecom ventureBillionaire Ambani sets sight on Ghananew telecom ventureother African countries with new telecom venture
No Result
View All Result

Highlights

UEFA Champions League: Paris, Inter and Arsenal Win in Style to Stay Perfect, Barcelona Score Six

Africa’s Fastest-Growing Economy Sets new Rules for Foreign Stake in Local Banks

Nigeria’s Oil Production Could Reach 2 Million bpd by Next Year

BoG Halts GCB Bank Dividend Payment Over Regulatory Breach

How an Idle Land Tax Could Build 10,000 Homes in 5 Years

Thibaut Courtois Accuses La Liga of ‘Manipulation’ Amid Protests Over Miami Fixture

Trending

Features

MLS Playoffs 2025: A Look Ahead to the Exciting Postseason

October 22, 2025

MLS Playoffs 2025: A Look Ahead to the Exciting Postseason The 2025 MLS Cup playoffs kick off...

Michael Jordan Rookie Card Sets New Record with $2.7 Million Sale

October 22, 2025

BoG Pegs Ghana Gold Coin at GHS 47,551 per Ounce

October 22, 2025

UEFA Champions League: Paris, Inter and Arsenal Win in Style to Stay Perfect, Barcelona Score Six

October 22, 2025

Africa’s Fastest-Growing Economy Sets new Rules for Foreign Stake in Local Banks

October 21, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.