After receipt of all required regulatory permissions, Vodafone Group Plc has finalized the sale of its 70% ownership stake in Vodafone Ghana to the Telecel Group.
According to a joint statement from the parties, the transaction marked the biggest shift for the Ghanaian telecoms company since 2008, when Vodafone Group Plc founded Vodafone Ghana and bought a controlling stake in Ghana Telecommunication Company Limited.
With a brand established in 1986 and operations primarily in Africa, Telecel is a telecommunications company with an emphasis on the continent. It combines traditional telecommunications with fintech, e-commerce, and tech startups.
It said that the conclusion of the agreement for Telecel Group to purchase Vodafone Ghana presented a chance for greater innovation and the continuous provision of unmatched services to Ghanaians.
According to the statement, Vodafone Ghana and its three subsidiaries, Vodafone Ghana Mobile Financial Services Limited (Vodafone Cash), National Communication Backbone Company Limited (Vodafone Wholesale), and the Vodafone Ghana Foundation, would carry on with business as usual while embracing exciting new opportunities.
The acquisition “is a monument to our enthusiasm and good vision for the Ghanaian market, which we consider as a critical market with limitless potential for digitalization and innovation in Africa,” stated Mr. Malek Atrissi, Chief Operating Officer of Telecel Group.
The Telecel Group is keen to create and offer cutting-edge solutions to customers, businesses, and communities in Ghana, according to the Chief Operational Officer.
We anticipate Vodafone Ghana’s transformational journey, together with the contribution and expansion of its human capital.
The CEO of Vodafone Ghana, Mrs. Patricia Obo-Nai, informed clients and partners of her steadfast dedication to continuity across all services and goods.
“We are fully committed to achieving excellence across all business facets and offering our customers cutting-edge goods and services,” she said. We welcome this move as a chance to investigate fresh and intriguing potential growth opportunities.