NCA gives green light for Telecel Group to take over Vodafone Ghana’s majority shares
The National Communications Authority (NCA) has granted conditional approval for the transfer of a 70% majority stake in Ghana Telecommunications Company Limited (Vodafone Ghana) from Vodafone International Holdings B.V. to the Telecel Group.
The revised proposal from the Telecel Group, which demonstrated a commitment to the needed capital investment to extend the deployment of 4G and launch innovative fintech solutions, met the regulatory threshold for approval, according to the NCA.
The NCA in a press release copied to NorvanReports said it received an initial application for the transfer of shares in January 2022, but the request did not meet the regulatory threshold for approval.
Following the NCA’s decision, the Telecel Group resubmitted a revised financial and technical proposal in December 2022, which provided more clarity and certainty in terms of funding and commitments from both the seller and buyer.
The regulator of the telecom industry confirmed that the revised proposal met the regulatory threshold and granted conditional approval for the transfer of shares, subject to the submission of strategies for employee retention and compliance with all statutory and regulatory requirements.
The NCA will closely monitor the implementation of commitments made by the buyer and seller to ensure they are met in a timely and satisfactory manner.
The NCA emphasized that the transfer of shares does not affect the existing licenses and authorizations held by Vodafone Ghana and the buyer is required to comply with all regulatory requirements and standards set by the NCA.
The NCA is committed to promoting a competitive and dynamic telecommunications sector in Ghana and will continue to work with all stakeholders to achieve this goal.
