Haruna Iddrisu raises concerns about the alleged sale of Ghana’s stake in Vodafone

The Member of Parliament for Tamale South, Haruna Iddrisu is demanding answers from the government on an alleged sale of Vodafone Ghana.

According to him, Ghana’s 30 percent stake prized in a billion-dollar asset has been sold on credit for a paltry US$100 million.

Mr. Iddrisu lamented over the telecom sector which used to be an avenue of revenue for the government but has ‘withered away,” demanding an explanation from the Communications Minister.

He said the Minister, Ursula Owusu-Ekuful must come and explain to Parliament.

“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,” he said on the floor of Parliament on October 31.

In 2016, Ghana granted Vodafone International Holdings (VOD.L) approval to sell its 70% stake in Vodafone Ghana to Telecel Group.

The National Communications Authority (NCA) approved the sale after Telecel submitted a revised financial and technical proposal in December 2022.

The NCA had turned down an initial sale plan submitted by Vodafone Ghana early last year as it did not meet the required regulatory standards.