Telecel sends SoS message to Vodafone workers over sale
Management of Telecel group has assured the staff of Vodafone of no layoffs as it takes over the company.
This follows the National Communications Authority’s approval for the transfer of the 70 per cent majority shares in Ghana Telecommunications Company Limited (Vodafone Ghana) held by Vodafone International Holdings B.V. to Telecel Group.
There has been uneasy calm amongst the staff of Vodafone over their job security since the news of the takeover was approved.
Speaking in an exclusive interview with Citi Business News, the co-founder and Director of the Board of Telecel Group, Nicolas Bourg, stated that there is no cause for concern.
“Not at all, we don’t have any plans to lay off anybody. That’s not the way we operate in Telecel. We proved it with different organisations that we have in different sectors.”
“Our plan is to keep every employee of Vodafone.” He stressed.
Last year, Vodafone Ghana applied to the NCA to transfer 70 per cent of its majority shares to Telecel but this did not pull through after it failed to meet regulatory requirements.
NCA approves sale of Vodafone Ghana to Telecel
Parliament yet to approve sale of Vodafone Ghana to Telecel – Sam George
The Authority indicated earlier this year that the clearance was conditional on both sides making concessions and was issued in response to the assessment of the Telecel Group’s revised proposal.
The statement added that “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 statement read in part.
“The NCA found that the revised proposal provided more clarity and certainty in terms of the funding required for the acquisition and commitments from both the Seller and buyer. In addition, the buyer has strengthened the overall governance and management team, and made firm commitments toward meeting the regulatory requirements of the NCA,” it further indicated.
Based on this, the NCA determined that the Purchaser’s revised plan now satisfies regulatory requirements, and as a result, it gave conditional approval for the transfer of shares to the buyer, subject to the filing of a staff retention strategy.
Mr Bourg expressed delight at the progress made.
“We’re very happy about it. It’s been a year of talking with them (NCA) for us to fit their needs and today we are in a very constructive state of mind with them.”