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Asia’s Richest Man to Invest in 5G in Africa to Deliver 'Affordable' Internet Services
Asia’s Richest Man to Invest in 5G in Africa to Deliver 'Affordable' Internet Services
Sputnik Africa
5G is a mobile communication standard that provides high Internet speed (up to 25 Gbps), minimal delays in signal transmission (only 1-2 ms), a more stable... 30.05.2024, Sputnik Africa
2024-05-30T15:52+0200
2024-05-30T15:52+0200
2024-05-30T16:48+0200
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Indian billionaire Mukesh Ambani, ranked number one in Asia according to the Forbes 2024 list, is launching an ambitious 5G deployment project in Ghana.The entry of the Radisys Corp. CEO into the African telecommunications market was announced on May 27. The project will be financed through a joint venture named Next-Gen InfraCo (NGIC).NGIC has obtained the license to deploy 5G nationwide. By the end of the year, the company hopes to launch its operations, which should last three years. It will provide high-speed broadband services to mobile operators and internet service providers in the West African country.The company plans to offer inexpensive phones, various digital content and platforms, and localized applications. It also aims to reduce the digital gap and promote financial inclusion, as stated in the press release.Aside from that, two African telecom corporations, Ascend Digital Solutions Ltd. and K-NET, have a combined 55% interest in the new company. The Ghanaian government will control somewhat less than 10% of NGIC, with the remainder held by local mobile carriers and other investors, the NGIC Executive Director and the CEO of Ascend, Harkirit Singh, were quoted as saying by the Western media.NGIC has the exclusive right to provide 5G services in Ghana for a decade; however, its license is only valid for 15 years. The company's capital expenditures over the next three years will reportedly total $145 million.Earlier in May, India and Ghana discussed the possibility of signing a memorandum of understanding on the "Local Currency Settlement System" during the Joint Trade Committee meeting in Accra, according to a statement by the Indian Commerce Ministry.Both countries have identified "priority" areas for expanding bilateral trade: pharmaceuticals, healthcare, information and technology, agriculture and food processing, renewable energy, the energy sector, digital infrastructure, critical minerals, and textiles.The statement said both countries also agreed to operationalize India's Unified Payments Interface digital payment system in Ghana within six months.
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Asia’s Richest Man to Invest in 5G in Africa to Deliver 'Affordable' Internet Services
15:52 30.05.2024 (Updated: 16:48 30.05.2024) 5G is a mobile communication standard that provides high Internet speed (up to 25 Gbps), minimal delays in signal transmission (only 1-2 ms), a more stable connection, and higher capacity than previous generations of networks. It gives new opportunities for businesses, like launching services that weren't available to previous generations.
Indian billionaire Mukesh Ambani, ranked number one in Asia according to the Forbes 2024 list, is launching an ambitious 5G deployment project in Ghana.
The entry of the Radisys Corp. CEO into the African telecommunications market was
announced on May 27. The project will be financed through a joint venture named Next-Gen InfraCo (NGIC).
NGIC has obtained the license to deploy
5G nationwide. By the end of the year, the company hopes to launch its operations, which should last three years. It will provide high-speed broadband services to mobile operators and internet service providers in the West African country.
"This collaboration aims to deliver affordable 5G mobile broadband services across Ghana. The NGIC has been awarded a 5G license and is expected to launch 5G services across Ghana within the next six months, followed by expansion to other parts of Africa," a press release read.
The company plans to offer inexpensive phones, various digital content and platforms, and localized applications. It also aims to reduce the
digital gap and promote financial inclusion, as stated in the press release.
Aside from that, two African telecom corporations, Ascend Digital Solutions Ltd. and K-NET, have a combined 55% interest in the new company. The
Ghanaian government will control somewhat less than 10% of NGIC, with the remainder held by local mobile carriers and other investors, the NGIC Executive Director and the CEO of Ascend, Harkirit Singh, were quoted as saying by the Western media.
NGIC has the exclusive right to provide 5G services in Ghana for a decade; however, its license is only valid for 15 years. The company's capital expenditures over the next three years will reportedly total $145 million.
Earlier in May, India and Ghana discussed the possibility of signing a memorandum of understanding on the "Local Currency Settlement System" during the Joint Trade Committee meeting in Accra, according to a statement by the Indian Commerce Ministry.
Both countries have identified "priority" areas for expanding bilateral trade: pharmaceuticals, healthcare, information and technology,
agriculture and food processing, renewable energy, the energy sector, digital infrastructure, critical minerals, and textiles.
The statement said both countries also agreed to operationalize India's Unified Payments Interface digital
payment system in Ghana within six months.
