Connecting Africa is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

Business of Tech

Ghana regulator approves Vodafone sale to Telecel

Article Image
The National Communications Authority (NCA) of Ghana has granted conditional approval for the sale of a majority stake in Vodafone Ghana to Telecel Group. In a statement, the NCA said the approval was for the transfer of a 70% shareholding by Vodafone Ghana.

Last year, Telecel Group's proposed acquisition was rejected by the Ghanaian regulator who said the sale did not meet the regulatory threshold for approval.

However, a statement by the NCA has since explained that in accordance with due process, it had evaluated the application on various criteria and engaged with Vodafone Ghana and Telecel Group (the Buyer).

"Following the NCA's decision, the Buyer resubmitted a revised financial and technical proposal in December 2022, which demonstrated the needed capital investment to extend the deployment of 4G and launch innovative Fintech solutions," the Ghanaian regulator said.

"The NCA found that the revised proposal provided more clarity and certainty in terms of the funding required for the acquisition and the commitments from both the Seller and Buyer. In addition, the Buyer has strengthened the overall governance and management team and made firm commitments towards meeting the regulatory requirements of the NCA," it continued.

Vodafone Ghana exit

Under a strategy to refocus on its key markets, a Vodafone spokesperson confirmed with Connecting Africa in 2022 that the telco was selling its major stake in Ghana.

This after the management of the Ghana unit was handed over to its South African subsidiary, Vodacom, in 2020.

The UK-headquartered operator's shift away from being hands on in Africa also includes the December 2022 sale of a 55% stake in Vodafone Egypt to Vodacom Group.

Vodafone's deal with Telecel sees it selling its 70% stake in the Ghana subsidiary while the Ghanaian government maintains a 30% stake in the business.

Telecel is a global telecommunications company that operates in more than 30 countries, many of which are in Africa. It has four major lines of business across its subsidiaries: Telecel Mobile, Telecel Global Services, Telecel Play and Africa Startup Initiative Program.


Want to know more about telco financials, regulation and deals in Africa? Check out our dedicated Business of Tech content channel here on Connecting Africa.


According to statistics from market research company Omdia, Vodafone had 7.4 million mobile subscribers in Ghana in the last quarter of 2022. It is the second biggest mobile operator in the country after MTN Ghana, which had about 28.4 million users.

MTN Ghana is currently contesting a hefty tax bill imposed by the Ghana Revenue Authority for alleged outstanding tax obligations over a four-year period.

AirtelTigo Ghana follows in third place with an estimated 6.4 million subscribers and then Glo Mobile with just 998,640 users.

Related posts:

*Top image source: Image by pch.vector on Freepik

— Matshepo Sehloho, Associate Editor, Connecting Africa

Innovation hub

Story

Hot startup of the month: Nigeria's Tech Herfrica

Connecting Africa's hot startup is Nigeria's Tech Herfrica, a social impact organization that focuses on the digital and financial inclusion of women and girls in rural areas of Nigeria.

Story

Omdia View: February 2024

Highlights in February 2024 in the Middle East and Africa included 5G launches in Senegal and 5G trials in Egypt as well as Kenya's first 5G MVNO. Airtel also launched a new wholesale connectivity business while MTN and Huawei are planning a joint Innovation Technology Lab in South Africa – that and more in this month's Omdia View.

More Innovation hub

Latest video

More videos

Partner perspectives

All Partner Perspectives

Sponsored video

More videos

Industry announcements

More Industry announcements

Upcoming events

Africa Tech Festival 2024
November 11-14, 2024
Cape Town, South Africa
More Upcoming events

Africa Tech Perspectives

Story

Uber's Marjorie Saint-Lot on inclusion and sustainability in Africa

Uber's Country Manager for Ghana and Cote d'Ivoire, Marjorie Saint-Lot, shares how the ride-hailing company is approaching public-private partnerships, environmentally friendly initiatives and gender inclusion in Africa.

Story

The 100 most influential African leaders in 2023

A new report from Africa Tech Festival and Connecting Africa puts a spotlight on the top 100 African leaders in the telecoms and technology sector in 2023.

Story

Deep dive into East Africa's tech startup ecosystem

New survey reveals a lack of access to investors, reliance on international VCs and global recession trends as the biggest barriers for East African tech startups to access funds.

More Africa Tech perspectives

Guest Perspectives

Story

Omdia View: February 2024

By Omdia Analysts

Highlights in February 2024 in the Middle East and Africa included 5G launches in Senegal and 5G trials in Egypt as well as Kenya's first 5G MVNO. Airtel also launched a new wholesale connectivity business while MTN and Huawei are planning a joint Innovation Technology Lab in South Africa – that and more in this month's Omdia View.

Story

Omdia View: January 2024

By Omdia Analysts

Highlights in January 2024 in the Middle East and Africa included a $200 million fintech deal between MTN and Mastercard as well as 5G network trials by Telecom Egypt – that and more in this month's Omdia View.

More Guest Perspectives

Like us on Facebook

Newsletter Sign Up


Sign Up
Tag id test-002