Ghana News
Vodafone Group Reached an Agreement to Sell its Ghana Franchise.
Vodafone Group Reached an Agreement to Sell its Ghana Franchise.
UK-based telecom operator looks to refocus on key markets, Vodafone Group has agreed to sell its operations in Ghana to Telecel Group, according to Bloomberg.
NewsReport learned that the talks with Vodafone have been confirmed by a Telecel representative, who declined to comment further. According to people with knowledge of the situation who declined to be named, Telecel intends to later sell the mobile towers owned by the Ghanaian company in order to contribute to the acquisition’s funding.
The news agency said Vodafone will sell its majority stake in Vodafone Ghana to Africa-focused Telecel, subject to certain conditions. Vodafone entered Ghana in 2008 when it paid the West African country’s government USD 900 million for 70 percent of Ghana Telecom. The government retains a 30 percent holding in the business.
Vodafone explored a sale of its Ghana business to its African subsidiary Vodacom in early 2021 but that deal did not materialise. Vodafone is the largest fixed operator in Ghana and number two on the mobile market, which is dominated by MTN.