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Vodafone sells its 70% Ghana stake
Vodafone Plc, the parent company of Vodafone Ghana, is set to sell its operations in Ghana to the Telecel Group.
The company is reportedly in the final stages of selling its Ghana stake to the British telecommunications giant to refocus on key markets.
In 2008, Vodafone assumed 70% ownership of the business from the Government of Ghana, becoming the majority shareholder.
According to a report by Bloomberg, Telecel group plans to offload the Ghana business mobile tower to help fund the acquisition.
Nick Read, Vodafone’s chief executive officer, has been focusing the group on Europe and Africa as he streamlines a sprawling operation that once extended from its Newbury, England headquarters all the way to New Zealand.
