The Ghanaian government has recently refuted claims of selling its 30% stake in Vodafone Ghana, formerly known as Ghana Telecommunications Company Limited. These allegations, made by Member of Parliament for Tamale South, Haruna Iddrisu, suggested that the government sold the shares for a significantly lower price than their estimated value of $1 billion. However, Minister for Communications and Digitalisation Ursula Owusu-Ekuful has clarified the situation, emphasizing that the government has no intention of selling its remaining shareholding.
Government's Denial and Clarification
In response to the allegations, Minister Ursula Owusu-Ekuful categorically denied any plans to sell the government's 30% stake in Vodafone Ghana. She clarified that while Vodafone Ghana did transfer its 70% stake to the Telecel Group in February 2023, the government's shareholding remains intact. Furthermore, she highlighted that the shareholders' agreement does not require the consent of the minority shareholder (the government) for Vodafone Ghana to sell or transfer its shares.
Value of Vodafone Ghana
It is important to note that Vodafone Ghana is a significant player in the telecommunications industry, and its value is estimated at $1 billion. However, the alleged sale of the government's stake for less than $100 million raised concerns about potential undervaluation. Minister Owusu-Ekuful's clarification seeks to address these concerns and reaffirm the government's commitment to protecting its interests.
Shareholders' Agreement
The Minister also emphasized the provisions outlined in the shareholders' agreement. According to this agreement, Vodafone Ghana has the freedom to sell or transfer its shares without requiring the consent of the government. This legal framework ensures that shareholders can make independent decisions regarding their investments while adhering to established guidelines.
Government's Commitment to Telecommunications Sector
The denial by the Ghanaian government reflects its commitment to maintaining a strong presence in the telecommunications sector. The decision to retain its 30% stake in Vodafone Ghana demonstrates a strategic approach to safeguarding national interests while allowing private entities to operate efficiently within the industry.
Summary
The Ghanaian government's recent denial of selling its stake in Vodafone Ghana puts to rest any speculation surrounding this matter. Minister Ursula Owusu-Ekuful's clarification highlights the government's commitment to retaining its shareholding and protecting its interests in the telecommunications sector. As Vodafone Ghana continues to thrive under new ownership, it is essential to recognize the importance of transparent communication and adherence to legal agreements in fostering a conducive business environment.
(This article is sourced from citinewsroom.com and curated by Zinabu Alhassan | Mydailyreports24)
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