Telecel Group completes agreement of 70% stake in Vodafone Ghana
Telecom giant, Vodafone Group Plc has completed the transfer of its 70% majority shares in Vodafone Ghana (Ghana Telecommunications Company Limited – GTCL), to the Telecel Group after successfully obtaining all the necessary regulatory approvals, including the agreement of the Government of Ghana, as a minority shareholder.
A statement disclosed that this is the most recent major change for the Ghanaian telecommunications company since 2008 when Vodafone Group purchased a controlling interest in GTCL and established Vodafone Ghana.
Telecel is an Africa-focused telecommunication company founded in 1986, operating primarily in Africa and converging telecommunication with fintech, e-commerce, and tech startups.
Vodafone Ghana assured its customers and stakeholders of their unwavering commitment to continuity across all services and products.
Vodafone Ghana’s CEO, Patricia Obo-Nai said: ‘We are fully committed to delivering excellence across all facets of the business and providing our customers with innovative products and services. We embrace this change as an opportunity for us to explore new and exciting areas of growth.”
Meanwhile, the National Communications Authority in a separate statement said, although it has given approval for Telecel’s takeover of Vodafone Ghana, “The Authority will continue to guide the takeover process in accordance with the existing license conditions of Vodafone Ghana, while ensuring that the interests of consumers are held paramount. The NCA further assures the public that due process will be followed in the interest of all parties”.