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Vodafone to leave Ghana market, sells its stake in Ghana to Telecel

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Vodafone Plc has agreed a sale of its operations in Ghana to Telecel Group, as the British telecommunications giant looks to refocus on key markets.

The London-listed company will sell its majority stake in Vodafone Ghana to Africa-focused Telecel, subject to certain conditions, a spokesperson for Vodafone said in an emailed statement 

Vodafone entered Ghana in 2008 when it paid the west African county’s government $900 million for 70% of Ghana Telecommunications Co. The government retains a 30% holding in the business.

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Telecel plans to help fund the acquisition by later offloading the Ghana business’s mobile towers, according to people familiar with the matter, who asked not to be identified discussing confidential information. 

A representative for Telecel confirmed the talks with Vodafone, but declined to comment further.

Nick Read, Vodafone’s chief executive officer, has been focusing the group on Europe and Africa as he streamlines a sprawling operation that once extended from its Newbury, England headquarters all the way to New Zealand. 

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In Africa, Vodafone has been steadily consolidating interests under its sub-Saharan subsidiary Vodacom Group Ltd., of which it owns 60.5%. Vodafone explored a sale of its Ghanaian business to Vodacom in early 2021 and, while that deal did not materialize, transfered a 55% holding in its Egyptian operations to the group later in the year. 

Founded in 1986, Telecel operates in more than 30 countries and employs over 700 staff, according to its website.

The company has a history of growth through acquisitions, having struck deals in Gibraltar, Liberia and Mauritania in recent years. 

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Source: http://Bloomberg

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Joy Entertainment is now official media partner of Ghana DJ Awards Festival

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Merqury Republic Africa have announced a partnership with Joy Entertainment, Ghana’s number one urban entertainment media conglomerate, for the 1oth annual Ghana DJ Awards Festival.

Continuing a famed reputation for dedicated support to the Ghanaian Arts and Entertainment Industry, Joy Entertainment will, with enthusiasm and professionalism, oversee all related publicity initiatives, targeted at making the 10th edition of Ghana DJ Awards Festival a huge success. This will be effectively executed via Joy FM, Joy Prime, Hitz FM, Joy News, MyJoyOnline.com and all social media platforms.

This new partnership will give music fans the opportunity to enjoy comprehensive updates on the Ghana DJ Awards festival throughout the season, across the full breadth of Joy Entertainment platforms.

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Known as Africa’s biggest DJ festival, Ghana DJ Awards is the biggest celebration of today’s hottest urban music which throws spotlight on DJs and music artistes who keep music alive.

With on-air support, co-curation support and offering of talents by Joy Entertainment, the partnership is expected to deliver the highest form of entertainment and information for Ghanaians and audiences in the diaspora.

In addition, all the lined activities for the Ghana DJ Awards Festival and TV/Radio broadcast will be in association with Joy 99.7fm, Hitz 103.9fm, Joy Prime, Joy News, MyJoyOnline.com and other key partners.

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“We have been supportive of the Ghana DJ Awards here and there. But this time round, we are coming with everything.

It’s 10 years, and we have helped nurture it here and there, but now is time to celebrate; it’s a festival – and so we are coming on board with the power of Joy Entertainment. What it means is that you are going to have Joy FM, Hitz FM, Joy Prime, MyJoyonline, Joy News and all our social media platforms.

Everybody is going to be on board for us to make this festival a very big one”, Edem knight-Tay, head of programmes at Joy FM, remarked during an interview with I.B Ben Bako after the official signing of the partnership agreement on Friday.

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“We’re thrilled to partner with a powerhouse in the Radio, TV and new media industry like the Multimedia Group, to bring new life and a fresh perspective to the Ghana DJ Awards Festival music entertainment experience,” stated Eve-Ann Duncan, events coordinator, Merqury Republic Africa.

Ghana DJ Awards festival programming includes the nationwide Pub Fest, DJ Clinic, Fan Fest, nominees jam and the main awards night which climaxes the celebration.


Source:http://Sintim Media 

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