The management of Telecel Group has come out to quash the quails of existing employees of Vodafone Ghana, who feared that the takeover of Vodafone Ghana by Telecel Group will lead to job losses among the employees.
According to the co-founder and Director of the Board of Telecel Group, Mr Nicolas Bourg, the company does not have plans to lay off anybody, saying “That’s not the way we operate in Telecel. We proved it with different organisations that we have in different sectors.”
“All staff of Vodafone Ghana will keep their jobs despite the recent approval by the National Communications Authority for the transfer of the 70 percent majority shares in Ghana Telecommunications Company Limited (Vodafone Ghana) held by Vodafone International Holdings B.V., to Telecel Group. Our plan is to keep every employee of Vodafone”
Telecel Group
The NCA, pursuant to the evaluation of the revised proposal from the Telecel Group, granted the shares transfer approval a few weeks ago.
In January 2022, the NCA received an application from Vodafone Ghana for the transfer of 70 per cent of its majority shares held by the Seller to the Buyer. In accordance with due process, the Authority evaluated the application on various criteria and engaged both Vodafone Ghana and the Buyer.
However, the NCA concluded that the request did not meet the regulatory threshold for approval to be granted. Following the NCA’s decision, the Buyer resubmitted a revised financial and technical proposal in December 2022 which demonstrated the needed capital investment to extend the deployment of 4G and launch innovative FinTech solutions.
The NCA found that the revised proposal provided more clarity and certainty in terms of the funding required for the acquisition and the commitments from both the Seller and Buyer.
In addition, the Buyer had strengthened the overall governance and management team and made firm commitments to meeting the regulatory requirements of the NCA.
Based on that, the NCA in a statement confirmed that the revised proposal from the Buyer now meets the regulatory threshold and, hence, granted conditional approval for the transfer of shares to the buyer including the submission of strategies for employee retention.
The NCA, however, assured the general public and all stakeholders that it would continue to work with Vodafone Ghana and the buyer to complete all outstanding regulatory requirements to ensure a smooth transition as well as continuity of service delivery and improved choice for consumers and competition within the industry.
It can be recalled that minutes after the Vodafone-Telecel deal approval, it created a mixed reaction among the staff of Vodafone, as they expressed uncertainty about the outcome of their fate.
“I mean in truth, many employees are a little anxious, and considering the enormity of the news, it’s understandable. However, I think this is probably a good turn of events,” Vodafone Staff said.
Telecel is an international telecommunication company operating primarily in Africa and was founded in 1986 by the late Congolese businessman Miko Rwayitare. The company is reputable for its prowess in providing digital business/enterprise solutions – B2B, B2G, and B2P, which has also been the focus of Vodafone Ghana for a while now.
Telecel takes over Vodafone Ghana at a time when Vodafone is the second largest operator in Ghana behind MTN with about 7.4 million customers and the weak number two in the mobile money market. Vodafone is also the biggest fixed telephony operator in the market.
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