GT inks deal for USD200m bond facility

2 Apr 2008

According to the Ghanaian newspaper Daily Guide, the board of national fixed line operator Ghana Telecom (GT) has secured a USD200 million bond facility from UK-based Iroko Securities to refinance its debt and fund improvement works to its fixed and mobile networks. GT’s fixed line network comprises over 60 switches, supplied primarily from India, Japan, Sweden and France, reports TeleGeography’s GlobalComms database. However, due to poor routing and planning the PSTN suffers badly from congestion, and its complicated internal structure has led to poor maintenance and control. Meanwhile its network of payphones — the only access to communications for many poor areas — has long been falling into disrepair, with a high percentage out of order. The incumbent launched GSM mobile services in 2000 under the brand GT-OneTouch.

Ghana, Vodafone Ghana