Ghana: Vodafone rebrands to Telecel | Vodafone Ghana has officially rebranded to Telecel. Vodafone customers in Accra on Saturday March 9, 2024 noticed the change in name of their service provider around Mid-day.
Telecel, an international telecommunication company’s take over of Vodafone Ghana follows the granting of conditional approval for the transfer of 70 percent majority shares of Vodafone International Holdings B.V. Vodafone Ghana to Telecel Group by Ghana’s National Communication Authority (NCA)
The NCA in statement said the approval followed a revised financial and technical proposal resubmitted in December 2022, which demonstrated the needed capital investment to extend the deployment of 4G and launch innovative Fintech solutions.
In January 2022, the NCA received an application from Vodafone Ghana for the transfer of 70 per cent of its majority shares to Telecel Group, but the regulator after evaluation rejected the request for failing to meet the regulatory threshold for approval to be granted.
The NCA said it 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 Vodafone and Telecel. NCA said Telecel strengthened the overall governance and management team and made firm commitments towards meeting the regulatory requirements of the NCA.
“Based on the above, the NCA confirms that the revised proposal from the Buyer now meets the regulatory threshold and hence has granted a conditional approval for the transfer of shares to the Buyer including submission of strategies for employee retention,” the statement said.
Vodafone Ghana began operations in 2008 when its parent company paid the government $900 million for 70 per cent of the then Ghana Telecom Company Limited. The government still maintained 30 per cent stake in the company. Ghana: Vodafone rebrands to Telecel
By Dominick Andoh ([email protected])
