Vodafone Ghana: Government Approves Sale of 70 Percent Telecom Company To Telecel

• All is set for Telecel Group to acquire a 70 per cent share in Vodafone Ghana after initial setbacks
• Attorney General Godfred Dame has said after scrutinising all the documents, he is convinced that the deal can proceed
• Vodafone International Holdings B.V. holds the 70% shares that Telecel Group is set to acquire, while the Government of Ghana owns the remaining 30%

The government of Ghana through the Attorney-General has approved the sale of 70% of Vodafone Ghana to Telecel.

Telecel describes itself as a leading Africa-focused provider of digital & communications services. The company was founded in 1986 by the late Congolese businessman Miko Rwayitare.

The company prides itself on its ability to achieve turnarounds in difficult markets.

After scrutinising documents forwarded by the Finance Ministry, Attorney-General Godfred Dame has stated in a letter that the transaction can proceed because documents covering the sale meet relevant laws and requirements.

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The approval by the Attorney-General is the last step in the process initiated by Vodafone International Holdings B.V. to offload its 70% shares to Telecel Group. The Government of Ghana owns the remaining 30%.

Meanwhile, the staff of Vodafone Ghana are anxious about their job security as the sale to Telecel nears completion.

Government earlier granted conditional approval for the sale

YEN.com.gh reported in a separate story that the government in January 2023 granted conditional approval for the sale of Vodafone Ghana to Telecel Group.

The National Communications Authority (NCA) in a statement said the approval was for the transfer of the 70% majority shares in Vodafone Ghana.

Telecel Group earlier made a bid for Vodafone Ghana which was rejected by the government of Ghana.

AirtelTigo company cost just $1

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Also, YEN.com.gh reported earlier that the Minister for Communications and Digitisation, Ursula Owusu-Ekuful revealed that the government acquired the telecommunications network, AirtelTigo, for just $1.

She said the assertion that the government paid $20 million for it is false and that the public should disregard it.

According to her, the government will organise and pay out the company's debts incurred by AirtelTigo totalling $100 million payable to Standard Bank.

Source: YEN.com.gh