Alcatel Increases Credit Facility To Ghana Telecom

The Management of Alcatel Shangai Bell Company of China has pledged to increase its credit facility to Ghana Telecom by 40 million to 100 million dollars. The amount will help Ghana Telecom to expand its GSM Network and Fibre Optic Transmission.

The credit facility with a three-year grace period and repayment in 10 years was a commitment the Company made to President John Agyekum Kufuor during his State visit to China in October last year.

The Chief Executive Officer of the Company, Yuan Xin, announced this when he paid a courtesy call on President Kufuor at the Castle, Osu.

Mr Yuan said Alcatel, having been a major service provider in the existing telecommunications network in Ghana for the past 20 years, signed a Memorandum of Understanding (MOU) with the Ghana Telecom, last December to help with its fixed lines and GSM projects.

President Kufuor expressed government's determination to improve upon the existing relationship between Ghana and China especially in the telecommunications sector. He, therefore, appealed to investors, companies and institutions that partner Ghana Telecom to emphasise more on the provision of technical know-how and the training of their Ghanaian counterparts to make the partnership more beneficial.