Celltel Networks, Roberta Annan Consulting (RAC) and Chinese government’s international cooperation company (CEIEC) have signed a memorandum of understanding (MoU) to collaborate in the execution of the $300 million Ghana Smart Cities project under the brand name ArisCel.
Under the MoU, Ghanaian company, Celltel Networks, is the concept developer, RAC is onboard as transaction advisors for CEIEC, while CEIEC joins a consortium of expert companies to deliver on the project.
The three companies will soon be entering into a comprehensive agreement with the other partners of the project, which will be funded by a consortium of private investment banks and vendors.
The Ghana Smart Cities project has been designed to provide affordable nationwide Wifi network in collaboration with the local government institutions and other strategic and relevant government agencies.
Before the signing of the MoU, RAC and CEIEC, Celtell Networks and its original foreign partners on the project, which include Cisco representative Sylversys Consulting International and US-based Aristotle Incorporated, and Hughes Corporation have been working on the project design for years.
Aristotle, for instance, made a detailed presentation on the project to a Ghanaian delegation to the US last year.
Meanwhile, Celltel has already acquired four floors in the strategically placed and plush 12-storey 335 Place along the N1 Motorway extension for offices, an academy and a showroom.