• 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

  • Rich getting richer

    Economists differ on how to tackle the chasm between rich and poor, says Leopold Scholtz.

Loading...
See More

Ghana reviews Vodafone deal

May 19 2009 22:25

Related Articles

Icasa: 'Fire them all'

MTN eyeing Kenyan mobile firm?

 

Accra - Ghana has set up a committee to review the sale of its telecom firm to Vodafone, the world's largest mobile phone group by revenue, the minister of communications said on Tuesday.

"The review is not meant to revoke the sale and purchase agreement that Vodafone International signed with the government of Ghana, but to ascertain whether the contract was a genuine one," Haruna Iddrissu told AFP.

Britain-based Vodafone acquired a 70% stake in Ghana Telecom last August at a value of $900m, a deal which had been hotly debated in the parliament of the west African nation.

"The investigations are only to establish that there were no underhand dealings in the signing of the contract and the Ghanaian interest is protected," the minister said.

The five-member inter-ministerial committee, expected to submit its report in 90 days, would establish whether the country was short-changed in the deal.

The then opposition party, John Atta Mills's National Democratic Congress (NDC), which took power in January after winning the presidential poll, has said the process leading up to the deal was not transparent. Critics also said the deal was undervalued.

"The government, as a 30% shareholder, has access to documents covering the deal and can go ahead with any investigations. Our hands are clean and there is nothing to be scared of," said Major Don Chebe, a Vodafone spokesperson.

Vodafone operates in 25 countries and has partner networks in a further 42 countries.

- AFP

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

Top 10 richest musicians of all time

Check out the gallery to find out who they are!

 
 

Luxury living

Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it
Watch: Flying first class has never been this luxurious!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...