Vodafone Group Plc has completed the transfer of its 70% majority shares in Vodafone Ghana 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 joint statement from Vodafone and Telecel said “This is the most recent major change for the Ghanaian telecommunications company since 2008 when Vodafone Group purchased a controlling interest in GTCL at $900 million and established Vodafone Ghana.”
It comes after months of back and forth about the deal, with government initially raising questions about the capacity of Telecel to run Vodafone Ghana and also claiming that the deal failed to meet regulatory requirements.
But after further negotiations, during which Telecel resubmitted further and better particulars and also agreed to pay 20% of Vodafone Ghana’s outstanding licensing fees, the National Communications Authority approved the deal. It then went to the Attorney General for an opinion, which was granted only recently to clear the way for the deal to be completed.
Telecel is an Africa-focused telecommunication company, with a brand founded in 1986, operating primarily in Africa and converging telecommunication with fintech, e-commerce, and tech startups.
The completion of the agreement to acquire Vodafone Ghana by Telecel Group presents an opportunity for further innovation and continued delivery of unparalleled services to Ghanaians.
Telecel has assured to invest hundreds of millions in Vodafone Ghana over the next three years to improve network quality, increase the number of towers, boost rural connectivity and also innovate in broadband and FinTech spaces. The have also assured workers of job security even though there is likely to be some changes at the top.
Techfocus24 also reported recently that rebranding the company from Vodafone to Telecel will take a while.
Meanwhile, operations of Vodafone Ghana and its three subsidiaries; National Communication Backbone Company Limited (Vodafone Wholesale), Vodafone Ghana Mobile Financial Services Limited (Vodafone Cash), and the Vodafone Ghana Foundation, will continue operations uninterrupted while embracing exciting new possibilities, a joint statement from Vodafone and Telecel said.
‘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 digitalization and innovation in Africa. Telecel Group is eager to develop and bring forward-thinking offerings to our subscribers, enterprises, and communities in Ghana. We look forward to a transformation journey of Vodafone Ghana with the contribution and growth of its human capital.’ stated Malek Atrissi, Telecel Group’s COO.
Vodafone Ghana assures 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.
About Vodafone Ghana
Vodafone Ghana is a leading provider of telecommunications services to consumers, corporates, and multinationals in Ghana. Vodafone is the only total communications solutions provider – mobile, fixed lines, internet, voice, and data – and is currently the telecom company of choice for Ghanaians. It is the second-ranked operator in terms of market share in the sector.
About Telecel Group
Telecel Group is an Africa-focused Telecom company with a diverse approach in the telecom space driven by digitalization and innovation. It has successfully established itself as a key service provider for both mobile users and enterprises, focusing on selected areas of development to ensure significant future growth on the African continent. Telecel is also an anchor for supporting startups
