Asia’s richest man, Mukesh Ambani, is expanding his business footprint to Africa with a new telecom venture in Ghana, targeting the growing market of mobile broadband users.

What Happened: Radisys Corp., a subsidiary of Reliance Industries, will provide crucial network infrastructure, applications, and smartphones for Ghana-based Next-Gen InfraCo. (NGIC), as per a Bloomberg report. The announcement was made by Harkirit Singh, the executive director of NGIC, ahead of the company’s launch on Monday in Mumbai.

NGIC, set to begin operations by the end of this year, will provide 5G broadband services to mobile operators and internet service providers in Ghana. Singh stated that the company’s founding principle is to offer affordable digital services in emerging markets.

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NGIC’s strategic partners include Nokia Oyj, Tech Mahindra Ltd., and Microsoft Corp. The company, which holds the sole 5G license in Ghana, aims to emulate the success of Ambani’s Jio Infocomm Ltd. in India, a game-changer in the Indian telecom sector with its low-cost data and free voice calling.

Two African telecom firms, Ascend Digital Solutions Ltd. and K-NET, together own a 55% stake in NGIC. The Ghana government will hold just under 10% of NGIC, with the remaining shares held by local mobile operators and private investors.

NGIC has an exclusive right to offer 5G services in Ghana for a decade, with its license valid for 15 years. The company’s capital expenditure for three years is projected at $145 million.

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