Vodafone sale review completed

Accra, Sept. 7, GNA - The review committee of the Ghana Telecom Sales and Purchases Agreement (SPA) between the Government of Ghana and Vodafone on Monday presented its report to the Minister of Communications, Mr. Haruna Iddrisu.

Mr. Justice Aquaye Addo, Chairman of the five-member committee, presented two copies of the 67-page report to the minister at a brief ceremony, without any hint of what the findings and recommendations were.

Mr. Iddrisu told journalists that government would be guided by the recommendations of the report in its decision about the SPA. He praised the committee for accepting to review such a "delicate, complex and controversial issue" and for sticking to their three-month mandate.

The minister noted that even though government's decision on the Vodafone SPA would have major ramifications on foreign investment in the country, government would place the strategic interest of the public above all other considerations in deciding the next line of action. "We now have a very strong telecom market in this country and government is interested in securing that and all other investments in the country," he said.

Less than two years ago, the previous government sold 70 per cent shares in the Enlarged GT to Vodafone on a cash free, debt free basis for 900 million dollars.

The Enlarged GT comprised of GT fixed line operations, cellular operations (Onetouch), Broadband operations, GT call centre (Exzeed), SAT-3 submarine fibre optics landing station and National Fibre Optics Backbone.

The sale generated a huge controversy and public debate across country. Some interested parties took government to court but the sale was eventually carried out when Parliament approved the SPA under a certificate of emergency.

Three months ago the Minister of Communications of the present government commissioned a five-member committee to review the GT SPA. The committee was given a 15-point terms of reference, including issues surrounding the SPA proper, pre-SPA events at GT, as well as the future ramifications of the SPA to the government and people of Ghana.