The Minister for Communications and Digitalization, Ursula Owusu-Ekuful, has refuted claims that government has fortified its 30% stake in Ghana Telecommunications Company Limited.

According to Madam Owusu-Ekuful, the government has no plans of offloading its 30% shares.

The Communications Minister explained that Vodafone Ghana, which holds 70% of the company, transferred its stake to the Telecel Group in February 2023.

“Mr Speaker, the Government of Ghana has no plans of selling its thirty percent (30%) shareholding in the Ghana Telecommunications Company Limited. “Vodafone Ghana transferred its seventy percent (70% stake in the company to the Telecel Group in February 2023,” she noted.

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

Context

The Member of Parliament for Tamale South, Haruna Iddrisu demanded a clarity on an alleged sale of the government of Ghana’s 30 percent stake in Vodafone Ghana.

Speaking on the floor of Parliament, the NDC legislator said the billion-dollar asset that belongs to Ghana has been sold on credit for a paltry US$100 million.

He demanded that the Communications Minister Ursula Owusu-Ekuful must come and explain to the House.

“Mr. Speaker on my own accord, I want the Hon. Minister of Communications to come and respond to this House, whether it is true that Ghana’s 30 percent stake in Vodafone Ghana has been sold to the majority holder, on credit for less than US$100 million and what the state of that transaction is, as an economic transaction within the meaning of Article 185 of the 1992 Constitution and probably also to update this House on the withering away of Ghana’s telecom landscape and this trend,” Haruna Iddrisu said.