US$70m boost for telecom, renewable sectors

Fountain Technologies Limited, a local subsidiary of the multinational investments firm FEP Holdings Ltd. based in Kenya, has announced plans to invest in the country’s telecoms and renewable energy sectors as it begins operations.

The company brings to the domestic market its vast experience and competent expertise that will help to complement government’s quest for a sustainable energy supply leveraging on the huge potential of the renewables sub-sector.

FTL’s head of operations for West Africa, James Gunther, said in an interview that:“We are here to invest innovatively and sustainably in the Ghanaian economy; specifically the telecoms and energy sectors at this initial stage. Our success in these fields will push us to expand to other critical areas of the economy.

“In Ghana, our core focus will be on telecoms installations, site build and telecom managed services as well as energy solutions.”

Mr. Gunther indicated that the company has already started some projects in the areas of civil engineering and solar energy but it is currently looking for competent local partners in the related fields of telecoms, renewable energy and civil engineering to boost operations.

“We believe in the power of many and for that matter we are extending our arms to local players in our related fields of operations. We have an asset base that is above US$70 million and we also have our own bank and for that matter funding projects will not be an issue.

“We uphold the best practice in the industry; we have great financial backing making it easier to execute huge projects which most local companies won’t attempt. We have seasoned engineers in the areas of power and telecommunications whose experience will help to transform the core sectors in which we operate,” he said.

Mr. Gunther emphasised that the company was wooed by the country’s favourable business environment and location as it will be a strategic base to push its expansion into other West Africa countries.

“FTL intends to use the stimulating economic environment in the country as a launchpad for expansion within the West African states of Sierra Leone, Niger, Burkina Faso, Ivory Coast etc. within the next two to three years.

Within Eastern Africa, the company has plans to open up to South Sudan, Zambia, and Mozambique in the next two years,” he said.

In terms of job creation, Mr. Gunther said the company hopes to provide over 1000 direct and indirect jobs across its four main pillars of investment namely financial services, hospitality, real estate as well as media and technology.

Fountain Technologies Limited is into the core business of energy, civil engineering and telecoms infrastructure that seeks to provide reliable energy, engineering and ICT end-to-end solutions in sub-Saharan Africa.

FEP Holdings has a strong governance structure headed by Mr. John Kithaka, who is an architect and member of the Institution of Engineers Kenya (IEK) as the Chief Executive Officer.

He is supported by the Chief Operating Officer, Mr. Maurice Korii; Regional Head of Media, Technology and Retail Division, Mr. Gabriel Ochieng; and Head of Fountains, SSA, Mr. Morrison Mucheri. Mr. Mike Kofi Afflu is the Executive Director of Fountain Technologies Limited, Ghana.