Telecel Group, an Africa-focused provider of digital and communications services, has announced a major investment in its wholly owned subsidiary Telecel Global Services (TGS), a leading telecommunication service provider for operators and enterprise clients globally with a particular focus on Africa.
Telecel Group and Africa Credit Opportunities Fund (ACOF), a sector-agnostic debt fund that invests in a range of credit opportunities in sub-Saharan Africa, have entered into a strategic partnership to invest US$20 million debt in TGS, to improve connectivity, digitalisation and e-commerce in West Africa and across the continent.
TGS provides a number of services, including cloud, firewall solutions, cybersecurity and data centres, to more than 350 telecom operators through its hubs in New York, London and South Africa.
Details of how the partership will effect its aims have yet to be shared but it is no secret that Telecel Group has ambitions to expand in Africa, to develop digital and mobile offerings, or to buy all or part of operators on the continent, via its subsidiaries TGS, Telecel Mobile and Telecel Play.
The company made headlines last year in Ghana, where it obtained the green light in January 2023 to acquire 70% of Vodafone Ghana. The Telecel Group is now gearing up to fully rebrand Vodafone Ghana to Telecel by the end of February 2024. The rebranding will cover Vodafone Ghana and its three subsidiaries, Vodafone Wholesale, Vodafone Cash and Vodafone Ghana Foundation.