Following approval from Ghanaian authorities, Vodafone Group has sold off its majority 80% stake in Vodafone Ghana to Telecel Group, continuing its strategy to streamline its footprint.
In a statement, Vodafone Group CEO Margherita Della Valle said: “The sale of Vodafone Ghana to Telecel Group is a further step in simplifying Vodafone’s African portfolio. Since entering the market in 2008, Vodafone has helped to develop Ghana’s critical network infrastructure supporting customers, businesses and communities.”
The remaining 30% will remain with the government in state-owned operator Ghana Telecommunications Company (GTC).
Vodafone entered the Ghana market in 2008 paying US$900 million for a 70% stake in GTC. In 2021, reports surfaced of the operator looking for a buyout of its unit in Ghana. Vodafone Group also sold off its majority stake in its Egyptian unit to Vodacom.