Telecel Group Completes Agreement to Acquire Majority Shares in Vodafone Ghana
February 21, 2023, in Accra. Vodafone Group Plc has completed the transfer of its 70% majority stake in Vodafone Ghana (Ghana Telecommunications Company Limited, GTCL) to the Telecel Group, having obtained all necessary regulatory approvals, including the Government of Ghana’s agreement as a minority shareholder. This is the most significant development for the Ghanaian telecoms firm since 2008, when Vodafone Group Plc acquired a majority stake in GTCL and founded Vodafone Ghana.
Telecel is an Africa-focused telecommunications firm formed in 1986. It operates largely in Africa and combines telecommunications with finance, e-commerce, and digital startups. Telecel Group’s deal to buy Vodafone Ghana is an opportunity for greater innovation and the continued delivery of exceptional services to Ghanaians.
Vodafone Ghana and its three subsidiaries, National Communication Backbone Company Limited (Vodafone Wholesale), Vodafone Ghana Mobile Financial Services Limited (Vodafone Cash), and the Vodafone Ghana Foundation, will continue operations while exploring exciting new opportunities.
‘This purchase demonstrates our enthusiasm and good outlook for the Ghanaian market, which we see as a critical market with boundless potential for digitalization and innovation in Africa. Telecel Group is excited to create and deliver innovative services to our Ghanaian users, businesses, and communities. We look forward to Vodafone Ghana’s transformation journey as well as the contribution and growth of its people capital. Malek Atrissi, Telecel Group’s COO, claimed this.
Vodafone Ghana reminds its customers and stakeholders about their continuous commitment to continuity throughout all services and products. Patricia Obo-Nai, CEO of Vodafone Ghana, stated, “We are fully committed to delivering excellence across all aspects of our business and providing our customers with innovative products and services.”
Regarding Vodafone Ghana
Vodafone Ghana is Ghana’s main telecommunications service provider for individuals, businesses, and international corporations. Vodafone is Ghana’s sole communications solutions provider, including mobile, fixed line, internet, voice, and data services. It is the sector’s second-largest operator by market share.
Telecel Group
Telecel Group is an Africa-focused telecommunications firm with a varied approach to telecom driven by digitization and innovation. It has effectively positioned itself as a prominent service provider for both mobile users and enterprises.
concentrating on certain areas of development to assure substantial future growth on the African continent. Telecel is also a supporter of entrepreneurs through its African Startup Initiative Program, or “ASIP”.