The Ghanaian technology company Celltel Networks has appointed Ed & Co Capital Limited, a local financial company, as financial advisor in its $500 million Ghana Smart Cities project. A memorandum of understanding was signed to this effect last week in Accra between the founder and executive chairman of Celltel Networks, Prince Kofi Kludjeson, and the managing director of Ed and Co, Emmanuel Dabi.

According to the deal, Ed & Co Capital Limited will organize and manage the relationships between various institutions or individuals and banks that wish to participate in the Ghana Smart Cities project. The initiative is expected to provide an affordable nationwide Wi-Fi network in collaboration with local government institutions and other strategic government agencies.

To enable Ghanaians to fully experience the Ghana Smart Cities project, Prince Kofi Kludjeson said that in addition to Internet access, his company will also distribute digital devices such as computers, digital televisions, etc. through various subscription packages.
Financing for the project has already begun with partners including Cisco, Hughes Corporation and Apple, and Celltel indicated it has already “recruited several young Ghanaian professionals who have been working with partners abroad to establish a reliable network and build custom-made solutions for various categories of subscribers.”

“We are also at the finishing stages of an assembling plant within the Free Zones enclave at Tema to ensure local assembling of affordable devices sooner than later - this will provide jobs for several young Ghanaians,” said Prince Kofi Kludjeson.