Vodafone Group completed the sale of its 70 per cent stake in its Ghana division to Africa-focused provider Telecel Group, after receiving final regulatory approval.
The UK-headquartered operator stated Ghana’s National Communications Authority gave the transaction the green light, as did the Government of Ghana, which holds the remaining 30 per cent stake in the business.
The authority previously halted the transaction due to issues around regulatory provisions on Telecel’s side, but the deal went ahead after the operator revised its proposal.
Vodafone’s Ghana division was one of the few assets in Africa owned directly by the company rather than by local subsidiary Vodacom Group.
Interim Vodafone CEO Margherita Della Valle said the sale of the unit is “a further step” in simplifying the company’s African assets, adding it has helped improve the country’s network infrastructure since it entered the market in 2008.
In a separate statement, Telecel added the transaction paves the way for “further innovation and continued delivery of unparalleled services to Ghanaians”.
COO Malek Atrissi added the company is “eager to develop and bring forward-thinking offerings to our subscribers, enterprises, and communities” in the country.