NCA Approves Vodafone Majority Shares Transfer To Telecel

Joseph Anokye, Director General NCA

The National Communications Authority (NCA) has granted approval for the transfer of 70 per cent majority shares in Ghana Telecommunications Company Limited (Vodafone Ghana) held by Vodafone International Holdings B.V. to Telecel Group.

This is subject to concessions by the seller and representations made by the buyer to the NCA.

The NCA in a statement said it evaluated the application on various criteria and engaged both Vodafone Ghana and the Buyer before arriving at the decision.

It would be recalled that in January 2022, the NCA received an application from Vodafone Ghana for the transfer of 70 per cent of its majority shares held by the seller to the buyer.

The NCA at the time concluded that the request did not meet the regulatory threshold for approval to be granted.

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 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.

“The NCA confirms that the revised proposal from the Buyer now meets the regulatory threshold and hence has granted conditional approval for the transfer of shares to the Buyer including the submission of strategies for employee retention.”

In addition, the Buyer has strengthened the overall governance and management team and made firm commitments to meeting the regulatory requirements of the NCA.

It assured the public and all stakeholders that it would continue to work with Vodafone Ghana and the buyer to complete all outstanding regulatory requirements to ensure a smooth transition, as well as continuity of service, delivery.

By Jamila Akweley Okertchiri