A report entitled 'Telecommunications Market in Ghana, Status and outlook' has been unveiled in London.
The report was produced by Wilkofsky Gruen Associates, a New York-based economic consulting firm in collaboration with Kina Telecom, a research and value-added telecommunications firm in Ghana.
“Telecommunications market in Ghana” is intended to provide information and essential data for prospective investors, researchers and market analyst on fixed phone lines, mobile communications, payphones, the internet and equipment market in Ghana.
According to the report, investment in the telecommunications industry in Ghana will quadruple from $384m in 2003 to $1.56b in 2008. Annual growth rates projected for the various sectors included 44.7% for mobile communications, 42% for fixed lines and 30.7% for payphones.
Additionally, the status report provides a historical account of the development of the industry, an overview of major trends which have shaped developments in the sector and delves into factors underlying the projections. The report also asserts that growth in the telecommunications industry in the medium term would be driven by increased investment in telecommunications infrastructure.
The report identifies among others, the passage of the National Communications Authority Act, liberalisation of the telecommunications industry, improved management of Ghana telecom as well as new sources of finance as key factors underlying the increase in investment in the telecommunications sector.
Reviewing the report in London, Mr. Isaac Osei, Ghana's envoy to the UK observed that the report had come out at an opportune time when macro-economic indicators which foster investment in Ghana had improved tremendously.
Mr. Osei drew a parallel between the report's projections and the NPP government's vision for the sector and stressed that the projections reflected the Government's targets for the telecommunications industry in the medium term.
The High Commissioner noted that the report was based on bench works for 2003 and suggested that the report should be a moving projection plan to be updated periodically to reflect changing trends in the telecommunications sector.
On internet connectivity, Mr. Osei revealed that government was committed to enhancing access to the facility particularly broadband connection because it had the potential of reducing the cost of doing business in Ghana.
Mr. Osei revealed that government was also committed to strengthening its machinery for collating information to enhance its capacity to provide information to the public.
High Commissioner Osei congratulated the producers of the report and their sponsors for the good work and added that the report would provide the needed flip for the accelerated development of the telecommunication sector.
Mr. Victor Teppen, a representative of Kina Telecom expressed the hope that the report would encourage Ghanaians, particularly those living abroad to invest in the vibrant telecommunications sector in Ghana.
Also present at the review of the report were Mr. Ivor Agyeman-Duah, Minister-Counsellor (Information) at the Ghana High Commission and his deputy Mr. Charles Wereko, Mr. Enoch Acheampong, a UK- based Ghanaian IT consultant, Mr. Ben Godwyll, webmaster for the Ghana High Commission's website and officials of the Ghana High Commission in London.