Emerging Capital Partners (ECP), an international private equity firm focused on investing in the African continent, has announced a USD20 million investment in Cellcom Telecommunications (Cellcom), a wireless network operator with operations in West Africa. The funds will be used to expand Cellcom’s existing network in Liberia and allow it to launch services in Guinea and Sierra Leone. ‘Cellcom is the leader in the Liberian mobile telecoms market and has a very attractive business model that combines pre-paid services, low cost handsets, aggressive marketing and superior customer service,’ said Tom Gibian, chief executive officer of ECP. ‘We are confident that the company will be able to expand its operations and repeat its success in Guinea and Sierra Leone as well as new West African markets.’
ECP’s other African investments includes stakes in MTN Cote d’Ivoire, Starcomms of Nigeria and Celtel Gabon.