Asia’s richest man Mukesh Ambani is set to enter Africa with a telecom venture, seeking to win mobile broadband customers in a high-growth market.
Other strategic partners in NGIC include Nokia Oyj, Indian outsourcer Tech Mahindra and Microsoft Corp, which has increasingly sharpened its focus on the telecom business following an acquisition of two cloud networking firms in 2020. Two African telecom firms — Ascend Digital Solutions 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.
Source: News Formal (newsformal.com)
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