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XALLES EXPANDS INTO AFRICA GCG: STRENGTHENING GHANA'S ECONOMY RAISING CAPITAL IT OUTSOURCING SUCCESS |
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| news XALLES EXPANDS INTO AFRICA
Mr. Thomas Nash, CEO of Xalles Limited, met with Kwame Bawuah-Edusei, MD, Ghana's Ambassador to the United States; Hon. Albert Kan Dapaah, Minister of the Interior; Hon. Prof. Mike Oquaye, Minister of Communications; as well as Hon. Kofi Jumah, Member of Parliament and former mayor of Kumasi. Xalles will be presenting their findings from the ICT industry assessment and proposals for the next steps.
Xalles plans to host a Technology Summit in June 2007 in Accra to help organize the ICT industry and provide educational seminars on international marketing and facilitate business matchmaking with investors, partner companies and prospective clients.
The site for the future Technology Park has already been chosen and initial work is expected to start in 2007. Xalles has also chosen the site for its first African office that will also be located in the city of Accra and is expected to open in 2007.
Photos Top left: Mr. Thomas Nash with Kwame Bawuah-Edusei, MD, Ghana's Ambassador to the United States in front of the future African office of Xalles Limited. Top right: Mr. Thomas Nash with Hon. Albert Kan Dapaah, Minister of the Interior following a meeting on December 5. Bottom left: (from left to right) Mr. Thomas Nash, Dr. Essel Ben Hagan, Director, Institute of Industrial Research, Mr. Yaw Owusu, at the site of future Technology Park.
for more news click here .......................................................................... customerprofile GCG: STRENGTHENING GHANA'S ECONOMY Cyber Group Investments Limited (GCG) Ghana Cyber Group Investments Limited (GCG ) is a company that was founded in 1999 to leverage advances in information technology to strengthen Ghana's economy. The company’s founder and CEO, Mr. Yaw Owusu is Ghanaian but has spent many years studying and working in the United States. He has worked in Rockville, Maryland for General Electric and IBM as a programmer analyst for 5 years and then moved to New York in 1998 to join Goldman Sachs and to pursue further studies in computer programming and software development at Columbia University. Mr. Owusu enrolled in the MBA program at Columbia Business School from 2001 to 2002. He completed his undergraduate studies in Mathematics and Economics at Albright College in Pennsylvania.
“The Ghana Technology Park will be a strategic base for companies targeting emerging markets in the ECOWAS region, a new frontier in the world of outsourcing, covering 250 million people. Ultimately, the Park will seek to become West Africa’s biggest IT infrastructure with thousands of young professionals working for ICT firms in software development, business service, eCommerce, consultancy, education and training, sales & marketing and business process outsourcing,” comments Mr. Owusu.
Equity partners of the Ghana Technology Park will comprise of African private companies led by Ghana Cyber Group, Inc., Commonwealth Business Council Technologies and partners from Europe and American venture capitalists and technology firms with global interests. The Ghana Technology Park will offer hardware and business office rental, start-up incubation, outsourcing brokerage business and information technology support services.
Xalles Limited has partnered with GCG to develop and promote the Ghana Technology Park project, assisting with business plan development, acquisition of investors, project management, and consulting for the IT companies involved. Photos Top right: Institute of Industrial Research (IIR) site and future Technology Park site. Middle left: Photo of architects rendering of Phase I of the Technology Park. Bottom right: Mr. Yaw Owusu, CEO, Ghana Cyber Group Investments Limited (left) with Mr. Thomas Nash.
.......................................................................... creativityinfusion RAISING CAPITAL At Xalles Limited we have three primary companies in North America and Europe that we use to assist clients to obtain funding for their projects. There are many financing options available and as a start up or growing company you need to consider the multiple dimensions of funding. Here is a quick summary of typical funding sources:
Each of these sources has advantages and disadvantages, but in general we tend to avoid Venture Capital firms because of the general loss of control and level of activity that these firms want to take in the business, leading to inefficiencies and higher overheads.
The other models all have merits and suit different situations based on the company’s position in the business lifecycle. Private investors are often used where funding requirements are only a few million dollars and insurance funds and investment bankers are used for larger funding requests.
Funding Models:
In general we will tend to propose a combination model that involves repayment of the principal investment over time to the investor with a retained equity position. This gives the founders maximum control of the company, yet optimizes the ROI for the investor making the investment more attractive. There is no single magic formula. Different situations and companies call for different models and therefore all should be considered. When launching a new business or expanding an existing business, the key is to get the right team in place including the right financial advisors that can help navigate your management team through the right channels and obtain the right funding and the right price and at the right time.
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Do not buy on price alone: There are many hidden costs to doing business with another firm.
Ask for two types of references: References related to your industry and your project, but also contact information on projects where they had problems. Build a relationship: Do not start with a major project with the new vendor. Give them a couple of smaller tasks or projects to test them out.
Link payment and performance: Clear deliverables tied to all progress payments is critical to keep all personnel involved in the initiative cognizant of what is important to your business.
Ask this simple question: Do you trust them? If you have not been made to feel comfortable about the skills and business style of the front office or the back office personnel, then find another firm.
Post-project support: Which firm is prepared to support you and treat your company as a priority after the project is completed? Look for firms who are also interested in long term relationships.
Local project management: Many offshore outsourcing companies are now realizing that there needs to be a local presence to manage large projects and provide an effective communications link with the primary team located offshore. If your provider cannot give you local service, you might want to look for alternatives.
Many firms have learned the hard way how not to outsource IT work. Follow these tips and you can be one of the firms that can embrace the benefits of outsourcing while avoiding the pitfalls. You want to be one of the firms who find the best solution for your company, not simply the cheapest.
TWN. Thomas W. Nash is the Chairman and CEO of Xalles Limited, with offices in the US, Canada and Ireland. |
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In
early December Xalles was in Accra,
Ghana
to attend a series of initial
and followup meetings with cabinet ministers, members of parliament
and industrial leaders to discuss how Xalles
can help develop the ICT and outsourcing industry in Ghana.
Mr.
Nash also met with Mr. Yaw Owusu,
CEO of Ghana Cyber Group Investments
Limited (GCG) while in Ghana to
discuss The Ghana Technology Park project. Xalles has partnered with
GCG to help develop and promote a new technology
park that will be opening soon in the city of Accra.
The Ghana Technology Park will
make available infrastructure facilities to growing technology firms,
both domestic and foreign, to provide business process outsourcing,
call centers and other products for IT markets in United States, Africa
and other emerging economies. Mr.
Nash and Mr. Owusu met with Dr. Essel Ben Hagan, Director of the Institute
of Industrial
Research (IIR) to further discuss plans for the park. IIR, a government
organization, has provided access to 27 of the 36 acres of IIR land
upon which the park can be built. 
In
2003 GCG drafted and launched a
proposal for the Ghana Technology
Park.
The Ghana
Technology
Park
has been conceived to make available
infrastructure facilities to growing technology firms, both domestic
and foreign, to provide business process outsourcing, call centers
and other products for IT markets in the United
States, as well as Africa
and other emerging markets. The
Technology Park
venture will help Ghana
fully tap into the global information
technology market on a large scale. 
The
Ghana Technology
Park
will be an upscale business and
innovation centre that will identify
and develop early stage technology incubation opportunities, assist
client companies to commercialize their products, and broker contracts
between buyers of outsourcing services (based primarily in Europe
and North America) and IT and
BPO providers stationed at the Park. 
The
Ghana Technology
Park
will likely be established in
the Accra-Tema
Export
Processing Zone, a special free zone area designated by the Ghanaian
government for technology and industrial development with generous
tax and other commercial incentives. The free zone is equipped with
reliable utilities, including an
on-site power sub-station to ensure uninterrupted energy supply, a
large water reservoir and reliable
but affordable telecommunication services. 
Many
companies of all sizes are outsourcing system development work, hosting
of systems, technical architecture design, and many other facets of
the Information Technology business. I have identified below a few
critical areas of focus for your consideration as you embark on a
new outsourcing project. 