Vodafone Plc has concurred a sale of its operations in Ghana to Telecel Group, as the British broadcast communications giant hopes to pull together on key business sectors.
The London-listed organization will sell its greater part stake in Vodafone Ghana to Africa-centered Telecel, dependent upon specific circumstances, a representative for Vodafone said in a e-mailed statement.
Vodafone entered Ghana in 2008 when it paid the west African area’s government $900 million for 70% of Ghana Telecommunications Co. The government holds a 30% holding in the business.
Telecel plans to assist with financing the securing by later offloading the Ghana business’ mobile pinnacles, as indicated by individuals acquainted with the matter, who asked not to be recognized speaking about secret information.
A delegate for Telecel affirmed the discussions with Vodafone, but declined to remark further.
Nick Read, Vodafone’s CEO, has been zeroing in the group on Europe and Africa as he smoothes out a rambling activity that once stretched out from its Newbury, England base camp all the way to New Zealand.
In Africa, Vodafone has been consistently merging interests under its sub-Saharan auxiliary Vodacom Group Ltd., of which it owns 60.5%. Vodafone explored a sale of its Ghanaian business to Vodacom in early 2021 and, while that deal did not materialize, transfered a 55% holding in its Egyptian operations to the group later in the year.
Founded in 1986, Telecel operates in more than 30 countries and employs over 700 staff, according to its website. The company has a history of growth through acquisitions, having struck deals in Gibraltar, Liberia and Mauritania in recent years.