Telecel Group seeks to shake-up West African market
Telecel, an international telecoms operator, plans to compete more aggressively in Western Africa, thanks to a $20 million investment from Africa Credit Opportunities Fund (ACOF).
The investment will be made in Telecel Global Services (TGS) to expand business-to-business (B2B) services, and the multimillion-dollar investment debt is also expected to boost connectivity, digitalisation, and e-commerce services in West Africa and beyond.
ACOF provides specialised senior debt-like solutions to promote intra-African commerce and growth.
Telecel Group intends to expand in Africa, by developing digital and mobile technologies, or even stakes in the continent's operators through its subsidiaries TGS, Telecel Mobile, and Telecel Play.
According to Telecel, TGS, which provides services to over 350 telecom operators through hubs in London, and South Africa (cloud, firewall solutions, cybersecurity, and data centres), is prepared to shake up the West African telecom sector with the additional financing.
This comes a year after Telecel Group completed the acquisition of majority stake in Vodafone Ghana.
The telco revealed last week that it is planning to finalise the rebranding of Vodafone Ghana to Telecel by the end of this month.
The rebranding process began last month and includes Vodafone Ghana’s three subsidiaries: Vodafone Wholesale, Vodafone Cash, and the Vodafone Ghana Foundation.
In a statement, Moh Damush, CEO, Telecel Group, said: “This evolution represents more than just a name change; it signifies our commitment to advancing telecommunications in Ghana.”