NextGen InfraCo 5G deal stinks -Ato Forson
Minority Leader Dr. Cassiel Ato Forson has criticized the 5G contract awarded to NextGen InfraCo, expressing concerns over the value for money. The government had previously announced plans to launch the 5G network within the next six months. NextGen InfraCo (NGIC), a consortium formed just a week before the approval of the contract, was awarded […] The post NextGen InfraCo 5G deal stinks -Ato Forson appeared first on Citinewsroom - Comprehensive News in Ghana.
Minority Leader Dr. Cassiel Ato Forson has criticized the 5G contract awarded to NextGen InfraCo, expressing concerns over the value for money. The government had previously announced plans to launch the 5G network within the next six months.
NextGen InfraCo (NGIC), a consortium formed just a week before the approval of the contract, was awarded the rollout contract. The consortium includes the government of Ghana and seven other partners: Ascend Digital, K-NET, Radisys, Nokia, Tech Mahindra, AT Ghana, and Telecel Ghana.
Addressing Parliament on Tuesday, June 11, 2024, Dr Forson voiced his belief that the contract does not provide adequate value for money.
He criticised the government for relinquishing a national asset for a mere $6.25 million dollars, declaring that the “deal stinks to the high heavens.”
“This government is giving this national asset away at a paltry $6.25 million dollars and 1% of annual revenue per annum, over 10 years on a work-and-pay basis.
“Simply put, Ghana will receive $42.2 million in present value terms assuming the cost of capital is 10% for a national asset that could have accrued up to $500 million upfront.
“This deal stinks to the high heavens, it does not deliver value for money, it short-changes the people of Ghana at a time that the country is in dire need of foreign exchange and non-tax revenue,” Dr Forson said.
Dr Forson mentioned that the Minority Caucus has marked the transaction for further scrutiny.
“The NDC Minority Caucus has, therefore, flagged this transaction for further scrutiny. Finally, Mr Speaker, the projections and statistics on the food situation in Ghana are grim.”
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The post NextGen InfraCo 5G deal stinks -Ato Forson appeared first on Citinewsroom - Comprehensive News in Ghana.
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