There are no plans to sell 30% shares in Vodafone Ghana – Minister

Ursula Owusu-Ekuful, the Minister of Communication and Digitalization, has denied rumors that the government had sold its 30% stake in Vodafone Ghana.

Answering the question in a categorical manner, Ursula stated, “Mr Speaker, the Government of Ghana has no plans of selling its thirty percent (30%) shareholding in the Ghana Telecommunications Company Limited.

“Vodafone Ghana transferred its seventy percent (70% stake in the company to the Telecel Group in February 2023.”

The minister’s response comes in response to a query on whether the government intends to sell its Vodafone Ghana shares from Rockson-Nelson Defeamekpor, the Member of Parliament for South Dayi.

There are no plans to sell 30% shares in Vodafone Ghana – Minister

The sale of Vodafone Group Plc’s 70% controlling stake in Vodafone Ghana (Ghana Telecommunications Company Limited) to Telecel Group has received final approval from the National Communications Authority (NCA).

The National Communications Authority (NCA) stated in a press statement on February 21, 2023, that the final clearance comes after “satisfaction of conditions outlined in the conditional approval of the shares transfer, including the agreement of the Government of Ghana, who remains the 30% minority shareholder.”

Recall that on January 16, 2023, the NCA announced that, after reviewing the Telecel Group’s revised proposal, it had given conditional approval for the transfer of Vodafone Group Plc’s (the Seller) 70% majority shares in Vodafone Ghana to Telecel Group (the Buyer), subject to concessions from the Seller and representations from the Buyer to the NCA.

According to the statement, the regulator would continue to direct the takeover procedure in compliance with Vodafone Ghana’s current license requirements while making sure that customers’ interests are given top priority.

Akosua Boatemaa

I'm Yours Truly, Blogger Akosua Boatemaa. I'm here to feed Your eyes and Ears with Authentic News Updates.

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