Glo to Invest N240 Billion in Ghana

Mergers, Acquisitions and Financial Results

Nigeria's Globacom has concluded plans to invest US$2 billion (about N240 billion) in Ghana's telecoms sector, within 5 years, having recently acquired the license to operate there.

According to the company's official source, Glo which had paid about $50.1 million to acquire the Ghana's National Communications Authority license of operation would stop at nothing in actualising its network in Ghana.

Olafimihan further emphasised, "given our antecedent and reputation, the government and people of Ghana can only expect the very best in telephony from Globacom as we are set to roll out very soon aggressively in Ghana shortly", adding that with this license, the country's mobile phone market would boom, amidst healthy competition with MTN, Tigo, One Touch, Kasapa and Celtel.

Glo which is currently building the Africa's first private submarine cable from Nigeria via Ghana to link other African nations and the Untied Kingdom as well as the United States, is Nigeria's second national carrier after Nitel, with licenses to operate GSM, Gateway, broadband and leased capacity services.

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