Broadband to reach Ashanti, Eastern and Western Regions this year

Accra, Aug. 23, GNA - Kumasi, Koforidua and Takoradi are listed to start operating Ghana Telecom's Broadband facility to provide uninterrupted internet service by the close of the year. Tamale, which has very few IT and Internet Service Providers (ISPs) would have the service in the first quarter of 2007. The service is currently based only in Accra and Tema where "generous" packages are being offered for residential and corporate institutions, Mr Joseph Wireko, Head, Marketing and Research of GT, told the Ghana News Agency on Wednesday.

He said the Company's other products are Onetouch and exZeed Call Centre.

He explained that the three products were operating within their budgets and delivering positive returns on investments. GT also provides fixed line services.

Mr Wireko said broadband reflected the future platform of all IT-based services and was the fastest growing service segment with significant impact on the fixed network's future revenue from 2006. "We are now adding new customers at a rate of 20 to 30 a day and foresee an increase to 50 per day by September 2006." Outlining the financial situation of GT, Mr Wireko said gross revenues increased from 49 per cent from 2002 to 2003 and 56 per cent from 2003 to 2004.

The Company made 1,348.3 million cedis in 2003 rising to 2,104.9 million cedis in the following year. The figure edged up slightly to 2,190 million cedis in 2005.

He explained that when Telenor Management Partners (TMP) took over the management of GT in 2003 the Company had a negative working capital and was on the verge of bankruptcy.

"In spite of this, the TMP-led Management was able to negotiate a 60 million-dollar loan from a syndicate of six local banks, which had helped to improve the working capital situation of the Company and enable it to make down payment for the implementation of a roll-out plan for its products," Mr Wireko said.