Telecel Group finally acquires majority shares in Vodafone Ghana

The National Communications Authority(NCA) has given the final approval for the transfer of the 70 percent majority shares in Vodafone Ghana (Ghana Telecommunications Company Limited) held by Vodafone Group Plc to Telecel Group.

In a release Tuesday morning (Feb 21, 2023), the National Communications Authority (NCA) explained that 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.”

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 percent 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.

It said the regulator 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,” the statement concluded.

Meanwhile, the company noted in the statement following the final approval said, “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.”

It added: “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”.

“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.