06 January 2020
Ghanaian technology company Celltel Networks has appointed local finance house Ed & Co Capital as the financial advisor for the planned US$500m Ghana Smart Cities project.
The idea is to provide an affordable nationwide Wi-Fi network in collaboration with local government institutions and other strategic and relevant government agencies in the west African nation. It is scheduled to begin in the second quarter of 2020.
A memorandum of understanding (MoU) was signed by the two companies in the capital Accra by Celltel founder and executive chairman Prince Kofi Kludjeson and chief executive of Ed and Co Emmanuel Dabi. Kludjeson said the scheme will provide affordable Apple handheld devices, laptops on subscription and flexible payment terms to enable more people to buy Apple devices on instalments. He added that this will provide opportunities for young entrepreneurs to act as main agents in various districts and share in the wealth that will be created locally.
Ed & Co will arrange and manage the relationship between institutions or individuals and the banks that would underwrite subscriptions on clients' behalf.