Vodafone Group PLC (LSE:VOD) said it has completed the sale of its 70% shareholding in Vodafone Ghana (GTCL) to Telecel Group.
In a brief statement, Margherita Della Valle, chief executive of the FTSE 100-listed telecoms firm said: "The sale of Vodafone Ghana to Telecel Group is a further step in simplifying Vodafone's African portfolio. Since entering the market in 2008, Vodafone has helped to develop Ghana's critical network infrastructure supporting customers, businesses and communities."
The company noted that the transaction has received regulatory approval and agreement from the government of Ghana which will retain its 30% minority shareholding in GTCL.
Vodafone operates mobile and fixed networks in 20 countries, and partners with mobile networks in 47 more. As of 31 December 2022, it had over 330mln mobile customers, more than 28mln fixed broadband customers, and 21mln TV customers. Vodafone is also a world leader in the Internet of Things (IoT), connecting over 155mln devices and platforms.
The company has revolutionised fintech in Africa through M-Pesa, which celebrated its 15th anniversary in 2022. It is the region's largest fintech platform, providing access to financial services for more than 58mln people in a secure, affordable and convenient way.