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    5 important things to know about the African Continental Free Trade Area agreement

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    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Pensioners to picket at Finance Ministry over DDE

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    MTN’s aYo insurance covers over 8 million Ghanaians in 5 years

    AGI urges Govt. to effect favorable business policies

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    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

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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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