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    Ghana Airports Company (GACL) Earns Top Honor as ‘Most Profitable’ State-Owned Enterprise at PELT Awards 2022

    IMF: Ghana has fulfilled obligations, awaiting creditor action on debt restructuring

    IMF, World Bank work to accelerate debt treatment for Ghana, others under G20

    Zambia advises Ghana to have restrictive laws on debt accumulation 

    Ken Ofori-Atta, Ministry of Finance for Ghana, gives an interview during day 3 of the AfDB Annual Meetings on 13 June 2019 in Malabo, Equatorial Guinea. (Photo by Malick Silue)

    2024 budget: Government commits to more expenditure cuts, aggressive growth, jobs

    Customer Service Week: Pan-African Savings and Loans provides medical services to clients

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    NPA sanctions seven OMCs for illicit fuel distribution

    Gold Coast Fund Management Company customers begin day 2 of protest at Finance Ministry

    IMF awaits Ghana’s agreement with bilateral creditors before releasing next tranche of $3bn bailout

    Development Bank Ghana set to diversify financial offerings by introducing equity fund alongside lending activities.

    Access Bank registers a GH¢0.30 increase in its share price as the local stock exchange witnesses no declines

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    World Bank projects Africa’s economy to slow down to 2.5%

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We’re ready to re-engage gov’t on acquisition of Vodafone shares – Telecel

byNerteley Nettey
August 3, 2022
in Local Economy, TECHNOLOGY, Top Stories
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International telecommunications firm, Telecel Group, says it is willing to re-engage government to get the clearance to acquire Vodafone PLC’s operations in Ghana, following earlier hurdles.

Last week, news broke about Vodafone Group’s intention to exit Ghana’s telecom market to enable it re-focus on its key markets.

The British telecommunication giant had agreed to offload 70 percent of its stake in Ghana’s operation to Africa-focused telecom company, Telecel Group, subject to regulatory approval by the Government of Ghana through the Ministry of Communications.

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Earlier reports suggested that the National Communications Authority (NCA) was blocking the sale of Vodafone Ghana to Telecel, but the Authority denied such a claim.

The NCA in a statement however explained that, after a critical regulatory review and evaluation, it concluded that the request from Telecel did not meet the regulatory threshold for approval to be granted.

Meanwhile, Telecel in a statement said it has received the responses from government “which have not granted the approvals yet and Telecel is willing to re-engage soon after putting together the necessary clarifications”.

It further noted that, the acquisition is fully financed by Telecel Group and its partners.

“Telecel confirms that the potential sale of Vodafone Ghana Towers is not part of the acquisition funding. Telecel hopes to successfully conclude this transaction and looks forward to engaging with staff and customers, who are important to the business.”

Below is the full statement:

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