Telecel Group Acquires Controlling Stake In Vodafone Ghana

Telecom giant Vodafone Group Plc has concluded the sale of its 70% controlling stake in Vodafone Ghana (Ghana Telecommunications Company Limited – GTCL) to Telecel Group, following regulatory approval and the agreement of the Ghanaian Government, as a minority shareholder.

The move marks the most significant development for the Ghanaian telecoms firm since 2008 when Vodafone Group Plc took control of GTCL and formed Vodafone Ghana.

Telecel Group is a leading Africa-focused telecommunications company specialising in integrating telecoms with fintech, e-commerce, and tech startups, with a history dating back to 1986.

This acquisition provides Telecel Group with the opportunity to enhance innovation and continue to deliver outstanding services to the people of Ghana.

Vodafone Ghana and its three subsidiaries, including National Communication Backbone Company Limited (Vodafone Wholesale), Vodafone Ghana Mobile Financial Services Limited (Vodafone Cash), and the Vodafone Ghana Foundation, will continue to operate uninterrupted while welcoming new and exciting 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,” said Telecel Group’s COO, Malek Atrissi.

He added that the company is eager to create forward-thinking offerings for its subscribers, enterprises, and communities in Ghana.

Vodafone Ghana’s CEO, Patricia Obo-Nai, assured its customers and stakeholders of the company’s unwavering commitment to continuity across all services and products.

“We embrace this change as an opportunity for us to explore new and exciting areas of growth,” said Obo-Nai.

The company remains a leading provider of telecom services to consumers, corporates, and multinationals in Ghana, offering total communication solutions, including mobile, fixed lines, internet, voice, and data.

Telecel Group, on the other hand, is an Africa-focused telecoms firm that focuses on digitalization and innovation and is known for its African Startup Initiative Program (ASIP), which supports startups in the region.

Credit: Citi Business

 

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