NCA denies blocking sale of Vodafone to Telecel

Explaining the issue further, the NCA said it received an application for the transfer of 70 percent majority shares in Ghana Telecommunications Company Limited from Vodafone International Holdings B.V to the Telecel Group.

It thus evaluated, in accordance with due process, the application on various criteria and engaged both Vodafone and Telecel Group.

It is expected that Telecel Group will inject the much-needed investment into Vodafone’s operations (sources estimate that Telecel has provisioned an investment of 500 million USD), to service the service provider’s debt while providing CAPEX to support the technology development and innovation.

Network availability and reliability are important to seamless service and the investment to be provided by Telecel Group would support the network infrastructure and architecture for existing and new Vodafone Ghana customers, including consumers, corporates, government, and SMEs.

The Telecel Group operates in four different business lines within the telecom and technology industry.

Telecel Global Services provides wholesale, enterprise, and digital security services to telecom operators and enterprises worldwide, while Telecel Play is a digital platform that is digitizing mobile users’ experience.

The Telecel Board is made up of experts in Telecom, Finance, and Digital services, with a large experience in leading positions in major companies, such as MTN, Vodafone, Orange, Google, and others; the chairman is also the main shareholder comes from the Mulliez family, highly regarded in Europe as being the Rothchild’s of France.