Telecel Group Completes Agreement to Acquire Majority Shares in Vodafone Ghana

February 21, 2023 – Accra. Vodafone Group Plc has completed the transfer of its 70% majority
shares in Vodafone Ghana (Ghana Telecommunications Company Limited – GTCL), to the Telecel
Group after successfully obtaining all the necessary regulatory approvals, including the
agreement of the Government of Ghana, as a minority shareholder. This is the most recent major
change for the Ghanaian telecommunications company since 2008 when Vodafone Group Plc
purchased a controlling interest in GTCL and established Vodafone Ghana.
Telecel is an Africa-focused telecommunication company, with a brand founded in 1986,
operating primarily in Africa and converging telecommunication with fintech, e-commerce, and
tech startups. The completion of the agreement to acquire Vodafone Ghana by Telecel Group
presents an opportunity for further innovation and continued delivery of unparalleled services
to Ghanaians.

Operations of Vodafone Ghana and its three subsidiaries; National Communication Backbone
Company Limited, Vodafone Ghana Mobile Financial Services Limited (Vodafone Cash), and the
Vodafone Ghana Foundation, will continue operations uninterrupted while embracing exciting
new possibilities.

“This acquisition is a testament to our enthusiasm and positive outlook for the Ghanaian market,
which we view as a vital market with unlimited potential for digitalization and innovation in
Africa. Telecel Group is eager to develop and bring forward-thinking offerings to our subscribers,
enterprises, and communities in Ghana. We look forward to a transformation journey of
Vodafone Ghana with the contribution and growth of its human capital.” stated Malek Atrissi,
Telecel Group’s COO.

Vodafone Ghana assures its customers and stakeholders of their unwavering commitment to
continuity across all services and products. Vodafone Ghana’s CEO, Patricia Obo-Nai said: ‘We
are fully committed to delivering excellence across all facets of the business and providing our
customers with innovative products and services. We embrace this change as an opportunity for
us to explore new and exciting areas of growth.

About Vodafone Ghana
Vodafone Ghana is a leading provider of telecommunications services to consumers, corporates,
and multinationals in Ghana. Vodafone is the only total communications solutions provider –
mobile, fixed lines, internet, voice, and data – and is currently the telecom company of choice for
Ghanaians. It is the second-ranked operator in terms of market share in the sector.

About Telecel Group
Telecel Group is an Africa-focused Telecom company with a diverse approach in the telecom
space driven by digitalization and innovation. It has successfully established itself as a key service
provider for both mobile users and enterprises, focusing on selected areas of development to
ensure significant future growth on the African continent. Telecel is also an anchor for supporting
startups with its African Startup Initiative Program, “ASIP”

You might also read