FOLLOWING approval from Ghanaian authorities, Vodafone Group has sold off its majority 80 percent stake in Vodafone Ghana to Telecel Group, continuing its strategy to streamline its footprint.
In a statement, Vodafone Group CEO Margherita Della Valle said: ‘The sale of Vodafone Ghana to Telecel Group is a further step in simplifying Vodafone’s African portfolio. Since entering the market in 2008, Vodafone has helped to develop Ghana’s critical network infrastructure supporting customers, businesses and communities.’
The remaining 30 percent will remain with the government in state-owned operator Ghana Telecommunications Company (GTC).
Vodafone entered the Ghana market in 2008 paying $900 million for a 70 percent stake in GTC. In 2021, reports surfaced of the operator looking for a buyout of its unit in Ghana. Vodafone Group also sold off its majority stake in its Egyptian unit to Vodacom.