Connect with us

News

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

Published

on

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.

Advertisement

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. 

Advertisement

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. 

Advertisement

Source: http://Bloomberg

Advertisement

Multiple Award Winning Travel & Celebrity Blogger | Teacher | Geographer | Writer| Publicist | PR Expert| Editor | Artistes Promoter| Talent Manager | Digital Marketer | Social Media Consultant | Web Entrepreneur | CEO of Sintim Media |

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Central Region

Central Expo 2024 Launches in Cape Coast, Event Set for August 31 – September 7

Published

on

By

The Central Region Trade, Tourism, and Investment Fair Expo 2024 was officially launched on Friday, June 14, 2024, at the Regional Coordinating Council’s Banquet Hall in Cape Coast.

President of the Central Regional House of Chiefs, Odeefo Amoakwa Buadu VIII chaired the launch event.

The theme for this year’s Expo is “Connecting Minds, Creating Business Opportunities in the Central Region.”

The week-long event is scheduled to take place from Saturday, August 31, to Saturday, September 7, 2024, at Adisadel College School Park, Cape Coast.

Advertisement


Since its establishment, Central Expo has significantly contributed to the transformation and unlocking of economic potentials in the central region.

This year’s fair aims to boost global visibility, promote collaborations, and generate revenue for the region.

The event seeks to showcase trade, tourism, and investment opportunities in the Central Region to the public, particularly the financial and business communities across the 22 districts of the region.

Source: Sintim Media

Advertisement
Continue Reading
Advertisement

Facebook

Featured

Entertainment7 mins ago

Akesse Moïse Sanza Urges Ghanaian Talents to Embrace Professional Management and PR Expertise.

Renowned Ghanaian travel blogger, Akesse Moïse Sanza, has advised Ghanaian talents to seek professional management and PR guidance. Referencing the...

Central Region4 hours ago

Central Expo 2024 Launches in Cape Coast, Event Set for August 31 – September 7

The Central Region Trade, Tourism, and Investment Fair Expo 2024 was officially launched on Friday, June 14, 2024, at the...

Entertainment6 hours ago

Yaw Blvck Holds Talks with Cape Coast Metropolitan Assembly Leaders on ‘Visit Cape Coast’ Project.

Yaw Blvck Meets with Cape Coast Metropolitan Assembly Leaders to Discuss ‘Visit Cape Coast’ Initiative In a bid to boost...

Entertainment2 days ago

Recording Academy Announces Global Expansion Efforts in Africa and the Middle East

The Recording Academy®, the organization behind the GRAMMY Awards®, is embarking on a path to extend its efforts to support...

Gospel3 days ago

Kofi Karikari Is Set To Host Grateful Worship Service On July 7, 2024

Kofi Karikari Live Worship Service and Recording- Grateful: A Night of Worship and Gratitude at Labadi Beach Hotel, Accra, Ghana....

News4 days ago

Aircraft carrying Malawi’s Vice President and nine others missing.

An aircraft carrying Malawi’s Vice President Saulos Chilima and nine other people has gone missing after it failed to make...

Events1 week ago

Hundreds Thrilled At Atarah Praise 24 Hosted By Prophet Joseph Atarah

Hundreds Thrilled At Atarah Praise 24 Hosted By Prophet Joseph Atarah Hundreds turned up at this year’s Atarah Praise held...

Music1 week ago

Eunice Asumadu – Epo Kokoo (Prod. by Sha)

Ghanaian gospel musician Eunice Asumadu, currently based in the USA, has recently unveiled her latest song for the year, “Epo...

Asikuma Odoben Brakwa District1 week ago

Hon. Winifred Abaidoo-Ayin Set to register Free Health Insurance for 10,000 Beneficiaries in the AOB District.

Hon. Winifred Abaidoo-Ayin Set to register Free Health Insurance for 10,000 Beneficiaries in the Asikuma Odoben Brakwa District. On Thursday,...

Gospel1 month ago

Unleashing Divine Harmony: Minister Pat’s ‘Adom Ara Kwa’ Uplifts Spirits and Inspires Faith!

Ghanaian-UK based Gospel Musician, Minister Pat, born Patience Cabitha Welbeck, has released another powerful Gospel song titled “Adom Ara Kwa.”...

Advertisement

Trending