Telecoms operator Telecel is preparing to expand its business-to-business (B2B) services in Western Africa with a US$20 million investment from Africa Credit Opportunities Fund (ACOF).
The investment, which will be funnelled into Telecel Global Services (TGS), is 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.
BMA understands that 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 acquired a majority stake in Vodafone Ghana.
The telco revealed last week that it plans 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 of Telecel Group, said: “This evolution represents more than just a name change; it signifies our commitment to advancing telecommunications in Ghana.”