Vodafone has agreed to sell its operations (majority stake) in Ghana to Africa-focused Telecel Group.
Telecel plans to help fund the acquisition by later offloading the Ghana business’s mobile towers. Vodafone entered Ghana in 2008 after paying the government $900 million for 70% of Ghana Telecommunications Co. Thus, the government retains a 30% holding in the business.
In Africa, Vodafone has been consolidating interests under its sub-Saharan subsidiary Vodacom Group Ltd., of which it owns 60.5%.
The company first explored the sale of its Ghanaian business to Vodacom in early 2021 and, although that deal did not materialize, it transfered a 55% holding in its Egyptian operations to the group later in the year.
Vodafone Group is a British multinational telecommunications company, with its global headquarters in Newbury, Berkshire, England. It predominantly operates services in Asia, Africa, Europe, and Oceania.
As of November 2020, the company owns and operates networks in 22 countries, with partner networks in 48 further countries. It has a primary listing on the London Stock Exchange, a secondary listing on Nasdaq, and is a constituent of the FTSE 100 Index.