Mumbai: After conquering the Indian business scene in telecom and oil, Reliance Industries chairman Mukesh Ambani is now eyeing a share of business in Africa. Ambani is planning to help the economy of an African country by slashing its debt while also solving the country’s banking and internet problems. Ghana, a country known for its coffee is facing a debt crisis. Ambani’s company is working with the country’s government to develop its high-speed broadband network, with an eye on the country’s banking sector.
Ambani to now offer low cost 5G in Ghana
After revolutionising data access in India, Ambani plans to launch a 5G network in Ghana. Like in India, Ambani aims to offer high-speed internet at a very low cost. Internet connectivity is expected to transform economic activity in Ghana. Reliance Industries will train Ghan’s Next Gen Infra Co to roll out the country’s first 5G network service, said Ghana’s Communications and Digitization Minister Ursula Owusu Ekuful on Friday.
Ambani has demonstrated the transformative effect of low-cost internet access with Reliance Jio’s success in India. Today, Reliance Jio is India’s largest company by telecom base.
How Ambani will help Ghana’s business and economic growth
High-speed internet is expected to have a positive effect on Ghana’s economy. The country’s is saddled with heavy debt. Ghanaian President Nana Akufo Addo in July launched a $503 million scheme offering cheaper loans to small and medium industries. SMEs are known to be major contributors to the Ghanaian economy at 70 per cent of the country’s gross domestic product (GDP).
RIL unit Radisys Corp will provide support to NGCI in the domains of infrastructure, applications as well as smartphones. Currently, internet penetration in Africa stands at 70 per cent of the government, the Bloomberg reported. Tech Mahindra, Nokia and Microsoft are also stakeholders in NGIC, according to the report.
Asia’s richest man Mukesh Ambani is now going to play a big bet in Africa. He has now made a complete plan to get the economy of a country out of the clutches of debt. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
