Thursday, 18 April

NCA gives final approval for transfer of 70% majority shares in Vodafone Ghana to Telecel group

Technology
The NCA has also assured that due process will be followed in the interest of the all parties

The National Communications Authority (NCA), has said it will continue to guide the takeover process of Vodafone Ghana by the Telecel Group, in accordance with the existing license conditions of the former, while ensuring the interest of consumers are held paramount.

The NCA has also assured that due process will be followed in the interest of the all parties. 

In a statement issued on Tuesday, 21 February 2023, the NCA confirmed that it “has given final approval for the transfer of the 70 percent majority shares in Vodafone Ghana (Ghana Telecommunications Company Limited-GTCL) held by Vodafone Group PLC to Telecel Group.

The final approval comes after the “satisfaction of conditions outlined in the conditional approval of the shares transfer, including the agreement of the Government of Ghana, who remains the 30percent minority shareholder.” 

On Monday, 16 January 2023, the NCA, announced that it had granted conditional approval for the transfer of 70 percent majority shares in Vodafone Ghana by Vodafone Group PLC (the seller) to Telecel Group (the buyer) subject to concessions made by the seller and representations made by the Buyer to the NCA.

Source: classfmonline.com/Elikem Adiku