Ghanaians in USA expressed interest in the Telecom sector

The National Council of Ghanaian Association in New York organized the launching of a telecommunications report on Ghana at the Permanent Mission of Ghana to the United Nations on September 23, 2005. The report entitled, Telecommunications Market in Ghana: Status and Outlook was developed by Wilkofsky Gruen Associates, a New York-based economic consulting firm with assistance from Kina Telecom, a value-added telecom firm in Ghana.

The report covers fixed lines, mobile communications, payphones, internet, and equipment and infrastructure market. It projects that the telecommunications spending in Ghana will grow dramatically through 2008, rising to $1.5 billion from $384 million in 2003, a 31.4 percent compound annual increase. In cedis, spending will rise from 3.2 billion in 2003 to 18.8 trillion in 2008, expanding at a 41.0 rate compound annually. The underlying drivers for this growth, according to the report, include the improved management of Ghana Telecommunications, new source of financing and the liberalization of the fixed line market.

The majority of Ghanaians present at the launching event expressed keen interest in investing in their motherland provided they have adequate access to information and data on various sectors enshrined in the telecommunications report. According to Dr. Lawrence of Lucent Technology, the report provides investors with basic market indicators and information that will help them make informed decisions on investing in the telecommunications market.
Mr. Obeng Busia, the Consul-General noted that this was the first time that the Ghana permanent mission to the UN in New York had undertaken a launching event of this kind. Present at the event are Dr. Victor Lawrence, Dr. Dodoo and Mr. Shariff Touray, members of the NCOGA Board of Directors, Alhaji Mohammed Mardah, the ESG of NCOGA, Mr. William Dzokoto, former executive of Lucent Technology and other former and current Council members and also the community leaders.
According to Victor Teppeh, one of the authors of the report and also senior telecom analyst at Kina Telecom, the Ghanaian community in the USA have the creative capabilities to help accelerate investment in the telecommunications industry.
The book is available for purchase by all potential investors. Please contact www.NCOGA.org or the Consulate at Ghana Mission to the UN.