Claims that the Ghanaian government sold its 30% share in Vodafone Ghana, formerly known as Ghana Telecommunications Company Limited, have been refuted.

This comes in response to recent claims made by Tamale South Member of Parliament Haruna Iddrisu that the government sold the shares for less than $100 million, even though the company was valued at $1 billion.

As stated in the shareholders’ agreement, Vodafone Ghana is not required to obtain permission from the government in order to sell its shares, as highlighted by Madam Ursula Owusu-Ekuful.

“Mr Speaker, the government of Ghana has no plans of selling its 30% shareholding in Ghana Telecommunications Company Limited. Vodafone Ghana, which holds 70% has transferred its stake to the Telecel Group in February 2023.”

“Under the shareholders’ agreement, the consent of the minority shareholder is not required for Vodafone Ghana to transfer or to sell its shareholding in Ghana Telecommunications Company Limited.”

Clarifying the situation, Minister Ursula Owusu-Ekuful of Communications and Digitalization stated that the government does not have any plans to sell its remaining 30% shareholding, even though Vodafone Ghana transferred its 70% stake to Telecel Group in February 2023.