The National Communications Authority (NCA) has debunked reports purporting a block of the sale of Vodafone Ghana to the Telecel Group by the Ministry of Communications and Digitalisation.
The Authority in a statement explained that in January, this year, it received an application for the transfer of 70 percent majority shares in Ghana Telecommunications Company Limited (Vodafone Ghana) from Vodafone International Holdings B.V. to the Telecel Group.
It subsequently engaged both Vodafone and Telecel Group, having followed due process to evaluate the application on various criteria, the NCA said.
“After a critical regulatory review and evaluation, the NCA concluded that the request did not meet the regulatory threshold for approval to be granted. Please note that the NCA only endeavoured to ensure compliance with the regulatory framework and international best practices,” it noted
The Authority has, therefore, entreated the public to disregard the claim, saying the statement is false.
The firm was denied regulatory approval by the National Communication Authority (NCA) after failing to meet the technical and financial requirements for the takeover.
“The acquisition is fully financed by Telecel Group and its partners. Telecel confirms that the potential sale of Vodafone Ghana Towers is not part of the acquisition funding. Telecel Group and Vodafone have been in touch with Ghana’s Ministry for Communications, the Bank of Ghana, and the National Communications Authority, to finalise all the regulatory requirements related to this transaction,” Telecel said in a statement.
“We have received their responses which have not granted the approvals yet and Telecel is willing to re-engage soon after putting together the necessary clarifications,” it added.