Josiah
The Minister for Communications and Digitalization, Ursula Owusu-Ekuful, has dismissed assertions that the government has increased its 30% ownership stake in the Ghana Telecommunications Company Limited.
Madam Owusu-Ekuful clarified that there are no intentions to divest the government’s 30% shares in the company. The Communications Minister explained that Vodafone Ghana, holding the remaining 70% of the company, executed a transfer of its stake to the Telecel Group in February 2023.
“Mr. Speaker, the Government of Ghana has no plans of selling its thirty percent (30%) shareholding in the Ghana Telecommunications Company Limited. Vodafone Ghana transferred its seventy percent (70% stake in the company to the Telecel Group in February 2023,” she stated.
Regarding the shareholders’ agreement, Madam Ursula Owusu-Ekuful highlighted that “the consent of the minority shareholder is not required for Vodafone Ghana to transfer or to sell its shareholding in Ghana Telecommunications Company Limited.”
Background:
Haruna Iddrisu, the Member of Parliament for Tamale South, sought clarification on the purported sale of the Ghanaian government’s 30% stake in Vodafone Ghana. In Parliament, he raised concerns that this billion-dollar asset had allegedly been sold for a mere US$100 million on credit.
Demanding an explanation from the Communications Minister, Ursula Owusu-Ekuful, Haruna Iddrisu requested her to address the House on whether Ghana’s 30% stake in Vodafone Ghana was indeed sold to the majority holder on credit for less than US$100 million. Additionally, he urged an update on the status of the transaction as an economic matter in accordance with Article 185 of the 1992 Constitution.
Source: Omanghana.com
