Vodafone’s Ghana business plans to list on the Ghana Stock Exchange (GSE) after restructuring its loans, the head of the local unit told Reuters on Tuesday
The world’s largest mobile group by revenue paid $900 million for a 70
The company had said plans to return the business to profit after an additional $1.2 billion investment were hampered by Ghana’s failure to fulfil its financial obligations as minority holder.
“There has been some movement now and the government has shown commitment with resolving the debts. They have given us a letter of undertaking around the restructuring of the company’s debt and that’s where we are now,” Cuba said.
Cuba said although Vodafone Ghana has yet to make
Vodafone is the third largest mobile network in Ghana with around nine million subscribers after South Africa’s MTN and AirtelTigo, a merger of Millicom International Cellular’s Tigo and India’s Bharti-Airtel. Others are Globacom of Nigeria and Sudan’s Sudatel Expresso. (Reporting by Kwasi Kpodo, editing by Louise Heavens and David Evans).