Mukesh Ambani, the richest man in Asia with a net worth of $92 billion, is expanding his business interests into Africa by investing 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 solutions, according to a Bloomberg report.
This partnership will see Radisys Corp. supplying NGIC with crucial network infrastructure, applications, and smartphones.
Harkirit Singh, the executive director of NGIC, announced the development ahead of the official launch in Mumbai, India’s financial hub.
NGIC aims to offer 5G broadband services to Ghanaian mobile users and internet service providers, with plans to commence operations by the end of the year.
Singh emphasized the company’s mission to provide affordable digital services in emerging markets like Ghana, a country of 33 million people currently served by major telecom operators MTN Ghana, Vodafone Ghana, and AirtelTigo.
NGIC, which holds Ghana’s sole 5G license, is strategically positioned to deliver large-scale broadband services, supported by its strong partnerships and technological expertise.
The company is 55% owned by two African telecom firms, Ascend Digital Solutions Ltd. and K-NET, while the Ghanaian government holds a 10% stake, with the remainder owned by private investors and local operators.
This move by Mukesh Ambani is seen as a strategic effort to increase 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.
