Vodafone completes sale of Vodafone Ghana to Telecel Group

Vodafone Group Plc has recently completed the sale of its 70% shareholding in Vodafone Ghana to Telecel Group.  The transaction has received regulatory approval and agreement from the Government of Ghana which will retain its 30% minority shareholding in Vodafone.

This comes after, Vodafone announced that the group was selling its Ghana division to Telecel Group. There were some roadblocks from the Ghana Government when they stated that the group had not met certain conditions to approve the sale. However, Ghana’s National Communications Authority gave the green light for the sale after certain conditions were met, this year.

Vodafone’s entry into Ghana’s market dates back to 2008, when it played a pivotal role in developing the country’s network infrastructure, and provided decent competition in Ghana’s telecom space alongside the market leader, MTN, and other players like Airtel and Glo.

Vodafone currently ranks second in Ghana’s mobile space, boasting over 7.5 million subscribers, which amounts to an 18.3% market share. While the company claims to be simplifying its African portfolio after selling Mpesa in 2020, the telecom giant has faced a tough year.

According to the  Chief Executive of Vodafone, Margherita Della Valle, he 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.”

Meanwhile, Telecel Group, the new owner of Vodafone Ghana,  has operated in 15 African countries since its founding by the late Congolese entrepreneur Miko Rwayitare in 1986. In 2017, the company rebranded, expanding its presence beyond telecoms to include e-commerce and startup initiatives.

Telecel Group boasts an impressive board of directors, including Hugues Mulliez, a member of one of France’s most powerful families. With this great history, Vodafone Ghana might put MTN on its toes.