The National Communications Authority has confirmed that it has given final approval for the transfer of the 70% majority shares in Vodafone Ghana (Ghana Telecommunications Company Limited – GTCL) held by Vodafone Group Plc to the Telecel Group.
A statement from the NCA said the final approval follows 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.
Techfocus24 also gathered the another very key condition was that Telecel paid 20% of the outstanding licensing fees of Vodafone Ghana, which is estimated between $8 million and $15 million before the approval was granted.
It will be recalled that the NCA had announced on January 16, 2023, that pursuant to the evaluation of the revised proposal from the Telecel Group, it had granted conditional approval for the transfer of the 70% majority shares in Vodafone Ghana held by Vodafone Group Plc (the Seller) to Telecel Group (the Buyer) subject to concessions made by the Seller and representations made by the Buyer to the NCA.
The NCA said it will continue to guide the takeover process in accordance with the existing licence conditions of Vodafone Ghana, while ensuring that the interests of consumers are held paramount.
It further assured the public that due process will be followed in the interest of all parties.
One key interest of concern to Ghana in this deal was job security for the many Ghanaian employed by Vodafone. But that has been sufficiently address by both government and Telecel officials, who have both given assurance in separate forums that there will no job cuts.
