Business News of Monday, 30 December 2019Source: Samuel DowuonaCelltel appoints Ed and Co. Capital as transaction advisor for Smart Cities projectThe Celltel Founder said the project will be a source of business for several young entrepreneursGhanaian technology company, Celltel Networks Limited has appointed local finance company, Ed and Co Capital Limited as financial advisors for the $500 million Ghana Smart Cities project billed to take of second quarter next year. The two companies have therefore signed a memorandum of understanding (MoU) to mark the commencement of their business relationship. The devices and service will be on monthly subscription basis and Ed and Co would focus mainly on structuring how the various categories of customers will finance their subscriptions. The Ghana Smart Cities project has been designed to provide affordable nationwide Wi-Fi network in collaboration with the local government institutions and other strategic and relevant government agencies. "We cannot mention names of the investors at the moment but discussions are in earnest and they are very promising," he said.

Source: GhanaWeb December 30, 2019 20:48 UTC