Vodafone Seals US$900 Million Deal with Ghana

Vodafone has secured a 70% stake in Ghana Telecom for US$900 million (£454 m) in the latest sign of the UK mobile operator’s appetite for Africa’s fast-growing telecoms markets, officials announced in London.

Arun Sarin, Vodafone’s outgoing chief executive, issued a statement, Thursday declaring that: ”Ghana is one of the most attractive markets in Africa with mobile subscribers growing at more than 55% a year, with mobile penetrating around 35%.

“Our extensive operating experience together with our portfolio of products and services position us well to deliver a superior mobile experience to Ghanaian customers and significantly improve financial performance”, he added.

Ghana Telecom operates the country’s third largest mobile carrier, with 1.4 million customers and a one-third market share, and a fixed line and broadband service.

Vodafone already owns a majority stake in Vodafone Egypt and 40% of Safaricom in Kenya, which listed on the Kenyan market last month.

Source African Press Agency

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