Gov’t Approves Sale Of Vodafone Ghana To Telcel

Gov’t Approves Sale Of Vodafone Ghana To Telcel.

The sale of Vodafone Ghana to Telecel has been approved by the Ghanaian government’s National Communications Authority.

According to the NCA, it will not be a barrier to the sale of the telecommunications company.

According to rumors, the NCA has blocked the transfer of the Telecel Group’s 70% stake in Vodafone International Holdings B.V.

However, according to a statement issued by the Authority on Tuesday, August 2, it only conducted a critical regulatory examination and evaluation after being informed about the deal in January.

It advised everyone to disregard the most recent reports.

“In accordance with due process, the Authority evaluated the application on various criteria and engaged Vodafone and Telecel Group,” the statement said.

“After a critical regulatory review and evaluation, the NCA concluded that the request did not meet the regulatory threshold for approval to be granted.”

“Please note that the NCA only endeavoured to ensure compliance with the regulatory framework and international best practice.”

By investing $900 million in Ghana Telecommunications Co. for a 70% interest, Vodafone joined the country’s telecom industry in 2008. The remaining 30% is owned by the government.

As part of a reorganisation process, Vodafone declared in 2021 that it was considering selling its stake in the Ghanaian business to its African affiliate Vodacom.

According to the local regulator, the subscriber base of the Ghanaian subsidiary has decreased recently, moving from 9,407,144 at the end of September 2019 to 7,882,497 at the end of February 2022. Gov’t Approves Sale Of Vodafone Ghana To Telcel