Telecel Group, a telecommunications powerhouse with over 6 million active customers, is set to expand its Business-to-Business (B2B) operations through its subsidiary, Telecel Global Services (TGS) to enhance connectivity, digitalization, and e-commerce in West Africa.
Supported by the Africa Credit Opportunities Fund (ACOF), the group is injecting a substantial $20 million investment into TGS, aiming to propel the growth of its technology and telecommunications branch across the continent.
Telecel Group, under the leadership of Mohamad Damush (CEO and co-founder), Nicolas Bourg (President and co-founder), and Hugues Mulliez (Director), has been strategically positioning itself as a key player in the African telecommunications landscape.
TGS, a subsidiary of Telecel Group, operates through hubs in New York, London, and South Africa, providing a range of services to more than 350 telecom operators. These services include cloud solutions, firewall protection, cybersecurity, data centers, and more. The $20 million investment from ACOF is expected to further strengthen TGS's capabilities, allowing it to play a pivotal role in advancing technology infrastructure across the region.
Andrew Bainbridge, leading ACOF, emphasizes the strategic importance of this partnership. ACOF, a joint venture between Gateway Partners and the "Fonds pour le développement des exportations en Afrique" (Feda), an impact investment platform of the African Import-Export Bank (Afreximbank), is dedicated to providing financing solutions for African companies with a focus on impactful investments.
Telecel Group's successful acquisition of 70% of Vodafone Ghana in January 2023, subsequently renamed Telecel Ghana, makes Ghana the second country in which Telecel Group operates, following its presence in the Central African Republic telecom sector.
By: Nana Appiah Acquaye
