Vodafone Ghana Now Telecel: Deal To Transfer 70 Percent Shares To New Telecom Company Completed

Vodafone Ghana Now Telecel: Deal To Transfer 70 Percent Shares To New Telecom Company Completed

  • A deal to offload 70% shares of Vodafone Ghana from Vodafone International B.V. to Telecel Group has been completed
  • This means that Vodafone Ghana's brands across the country will soon change to Telecel amid the promise of innovative service to rival MTN Ghana, the number one service provider
  • Both the government of Ghana, the remaining 30% shareholder, the NCA and Vodafone International B.V have approved Telecel Group's takeover of Vodafone Ghana

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Telecel, an Africa-focused telecommunication service provider, has completed the acquisition of 70% shares in Vodafone Ghana, setting the stage for a massive rebranding campaign in the coming days.

According to reports monitored by YEN.com.gh, the big player in digital service has received all relevant approvals from the regulator, the National Communications Authority and the government of Ghana, which owns 30% shares in Vodafone Ghana.

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Government approves sale of 70% Vodafone Ghana to Telecel

The 70% Vodafone Ghana shares that have recently been acquired by Telecel Group had been in the possession of British telecoms giant, Vodafone International Holdings B.V, since 2008.

Telecel has completed the acquisition of 70% shares in Vodafone Ghana.
Telecel Group is an Africa-focused telecoms company and Ghana has 30% shares in Vodafone Ghana. Source: Facebook/@TelecelGroup, @vodafoneghana
Source: Facebook

Telecel Group's Chief Operating Officer Malek Atrissi has said his firm feels positive about entering the Ghanaian market with innovative deals and projects.

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"This acquisition is a testament to our enthusiasm and positive outlook for the Ghanaian market, which we view as a vital market with unlimited potential for digitalisation and innovation in Africa," Joy News quoted Atrissi in a report on Tuesday, February 21, 2023.

Telecel Group describes itself as Africa-focused

Information on Telecel Group's website describes the company as an Africa-focused and a leader in digital service.

The company currently operates in over 30 countries and employs a total of over 700 workers.

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Telecel was founded in 1986 by the late Congolese businessman Miko Rwayitare, and is currently positioning itself as a key player in the new African digital revolution.

The company says it is keen on converging telecoms with fintech, e-commerce, and the growing tech startup space in Africa.

Ghana government approves sale of Vodafone to Telecel

Meanwhile, YEN.com.gh reported in a previous story that Telecel Group's bid to acquire a 70% share in Vodafone Ghana was successful after initial setbacks.

Attorney General Godfred Dame said after scrutinising all the documents, he is convinced that the deal can proceed.

Vodafone International Holdings B.V. acquired a 70% stake in Vodafone Ghana in 2008 in a deal that changed the face of Ghana's telecoms industry.

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Source: YEN.com.gh

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