An investable infrastructure portfolio for Ghana's connected decade.
Celltell offers institutional and development-finance investors exposure to a hybrid broadband and smart-city build-out structured around eight integrated revenue segments, anchored in real public and institutional demand.
A connectivity gap measured in millions of users and thousands of institutions.
Ghana has roughly 33 million people, 24 million internet users, and fewer than one fixed broadband subscription per hundred. Households spend disproportionately on rationed mobile data. Schools, hospitals, MMDAs, and SMEs operate with intermittent connectivity that suppresses productive use. The demand is enormous; what's missing is an operator structured to serve it affordably and at scale.
Celltell is that operator. Not as a competitor to incumbent telcos, but as a dedicated infrastructure and smart-city builder organized around eight Smart Segments — each with its own anchor institutions, payer logic, and unit economics.
The numbers behind the opportunity.
Eight segments. Three revenue patterns. One network.
Celltell's revenue is structured across three economic patterns, each with different risk-return profiles. Together they de-risk the overall portfolio, smooth cash flows, and create natural blended-finance entry points for different classes of capital.
Government and institutional connectivity
Multi-year contracted revenue from ministries, MMDAs, schools, hospitals, and security agencies. Predictable cash flows underwritten by public-sector budgets and often co-funded by donors.
Households, SMEs, and individual professionals
Monthly subscription revenue across residential broadband, SME connectivity, and productivity bundles for teachers, nurses, and civil servants — with payroll and institutional underwriting reducing collection risk.
Smart-city platforms and transaction layers
Revenue from platforms layered on the connectivity base — smart-market POS and price discovery, smart-mobility telematics, smart-agriculture traceability, and tourism / recreation venue services.
Five reasons this is the moment.
Latent demand, not speculative demand
70% internet penetration with fixed broadband below 1% is a market signal, not a hypothesis. The consumption already exists in suppressed form.
Anchored revenue from day one
Schools, hospitals, MMDAs, and ministries are not future targets — they are designed-in anchors with budget lines and policy mandates.
Hybrid architecture, hybrid economics
The network design and the financing structure mirror each other — a layered system where each tier serves a different cost-of-capital.
Affordability engineered, not promised
Subscription pricing and 48-month device financing convert latent demand into addressable demand at scale.
Aligned with national and continental priorities
Ghana's digital agenda, AU Digital Transformation Strategy, AfCFTA digital trade, Smart Africa — all reinforce the project's policy environment.
Structured for blended finance.
The Celltell capital stack is being structured for institutional and development finance participation, with clearly delineated tranches matched to investor risk-return preferences. Detailed terms are shared under NDA with qualified counterparties.
Specific tranche sizes, pricing, and terms available to qualified investors under NDA.
Where capital is deployed.
Indicative allocation. Final figures provided in the financial model under NDA.
Reportable against the frameworks DFIs already use.
UN Sustainable Development Goals
- SDG 4 (Quality Education) — institutional and student connectivity
- SDG 3 (Good Health) — telemedicine and health connectivity
- SDG 8 (Decent Work) — SME and productivity infrastructure
- SDG 9 (Industry, Innovation, Infrastructure) — core mandate
- SDG 10 (Reduced Inequalities) — affordability engineering
- SDG 11 (Sustainable Cities) — smart-city deployment
IFC Performance Standards & 2X
- Performance Standards 1, 2, 5 — applicable
- 2X Challenge alignment — gender-disaggregated reporting framework
IRIS+ and HIPSO
- IRIS+ metrics — connectivity coverage, end-users, institutions served
- HIPSO indicators — digital infrastructure standardized reporting
Institutional-grade governance from day one.
Independent board
A board with independent directors and committee structure designed to meet DFI corporate governance requirements.
Audited financials
Annual audit by a recognized firm, with quarterly management reporting available to investors under standard covenants.
ESG management system
Environmental and social management framework aligned with IFC Performance Standards, with dedicated reporting.
Procurement standards
Open, documented procurement aligned with multilateral standards for DFI-financed projects.
What's available.
Public documents are downloadable directly. Detailed financial, technical, and commercial documentation is shared via a secure data room with qualified investors after NDA execution.
Speak to investor relations.
We respond to qualified investor enquiries within 48 hours. Please share your institution and area of interest so we can route your enquiry appropriately.
Build the connected Ghana with us.
We are open to senior debt, mezzanine, equity, vendor finance, local debt, and concessional partners. Let's talk.