British telecommunications leader Vodafone Plc has finalized an agreement to sell its majority stake in its Ghanaian operations to the Telecel Group.
This strategic exit allows Vodafone to streamline its global portfolio and focus on its primary markets in Europe and other parts of Africa. Under the terms of the deal, Telecel will acquire the 70% shareholding that Vodafone has held since 2008, while the Ghanaian government will maintain its 30% minority interest.
To finance this significant acquisition, Telecel intends to sell off the company’s mobile tower infrastructure. This transition marks a major shift for the Ghanaian business, which Vodafone originally purchased for $900 million.
While Vodafone has recently consolidated many of its African assets under its Vodacom subsidiary, the Ghana unit remained a standalone operation until this divestment to Telecel, an Africa-focused firm with a presence in over 30 countries.
