Ghana’s communications regulator denied media claims it had blocked a proposed acquisition of a majority stake in Vodafone Group’s local operation by Telecel, though the authority also pointed out it had not approved it.
In a statement, Ghana’s National Communications Authority (NCA) clarified despite media reports to the contrary it had not stopped the sale, which has apparently been in progress for some time but was only revealed by Vodafone a few days ago.
The NCA noted any assertions it had blocked the transfer of Vodafone’s 70 per cent stake in Vodafone Ghana to Telecel were “false and should be disregarded as such”.
It, however added after evaluating the proposal received in January and holding discussions with both parties “the NCA concluded the request did not meet the regulatory threshold for approval to be granted”.
The authority added it “only endeavoured to ensure compliance with regulatory framework and international best practice”.
Vodafone Ghana’s minority shareholder is the Government of Ghana, which took ownership of local operator AirtelTigo in 2021.
The NCA statement comes after various Ghanaian news outlets claimed the regulator had put the scuppers on the proposed deal.