Vodafone Ghana's 70% stake will go to the Telecel Group now that the telecom regulator has given its permission to go ahead with the move. Vodafone International Holdings has received approval from the National Communications Authority (NCA) to transfer a 70% controlling stake in Vodafone Ghana to Telecel Group. It is worth noting that Vodafone paid $900 million to the government of Ghana for a 70% stake in the company. The government of Ghana still maintains the remaining 30% stake.
Vodafone Ghana's first application to the government for selling a controlling stake to the Telecel Group was rejected. The request didn't meet the regulatory threshold for approval. However, the Telecel Group resubmitted a revised financial and technical proposal in December 2022, which demonstrated the needed capital investment for extending the deployment of 4G and bringing innovative fintech solutions.
Because the new proposal provided clarity to the NCA, the move was allowed by the regulator, and the 70% stake in Vodafone Ghana can now be transferred to the Telecel Group.