- January 31, 2019
- Posted by: Myles Freedman
- Category: Finance, More Africa News
Mobile operator Vodafone Ghana does not plan to introduce part of its shareholding into the Ghana Stock Exchange (GSE), as requested by the government to grant a 4G license to an operator.
Vodafone Ghana, which obtained the 4G license in December 2018 for US $ 30 million, believes that it already meets state requirements for part ownership of the company by Ghanaians.
Yolanda Cuba, the chief executive of the telecom operator, said: “We will not bring the company to the Ghana Stock Exchange. At present, Ghanaians own 30% of the society through the Government of Ghana; this far exceeds the percentage required for the introduction, so we have already met this criterion , “she said.
Reacting to this exit from Vodafone Ghana, Kofi Yamoah, the GSE’s chief executive, explained at a press conference on the performance of the stock market in 2018, that the 30% stake held by the state, can not be considered public property.
“I would describe