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The Member of Parliament for Tamale South, Haruna Iddrisu is demanding answers from government on the purported sale of Vodafone Ghana for less than 100 million dollars.
The immediate past Minority Leader says his sources revealed that although the telecommunication firm worth 1 billion dollars, it has been allegedly sold on credit at a cheaper price.
Speaking in Parliament, the MP says the Sector Minister must appear before Parliament to brief the house on the transaction.
The Temale South MP seeking to know from the government who bought the 30% share, “of this 30% the majority shareholder will require the consent of the minority shareholder, for any transfer of the interest or sales agreement, am raising questions as to who granted that consent and how was that consent secured without parliamentary approval within the requirement of article 181(5),in the interest of transparency and accountability and more particularly value for money so it is important we know the minority 30% shareholder is, who value it and at what rate”
The lawmaker demands that the Minister incharge should appear before parliament to explain the status of that transaction.
“I want the leader of government business and business committee to programme the Hon. Minister for Communications to come and respond to this house whether it is true that Vodafone, a $1 billion asset of the Republic of Ghana, has been sold on credit for less than a $100 million and what the state of that transaction is, as an economic transaction within the meaning of Article 185 of the 1992 Constitution. And probably to also update this house on the whittling away of Ghana’s telecom landscape and its strength. Minister for Agric you know I don’t speculate, I’m above speculation,” he said.
Recall that in January of this year, Vodafone Plc reached an agreement to sell Telecel Group its business in Ghana, as the British telecom powerhouse attempts to shift its attention back to important markets.
A Vodafone spokesman sent an email stating that, subject to certain requirements, the London-listed company will sell Africa-focused Telecel the majority of its Vodafone Ghana stake.
In 2008, Vodafone made its entry into Ghana when it paid the government of the west African nation $900 million to acquire 70% of Ghana Telecommunications Co. A thirty percent stake in the company is held by the government.
According to persons acquainted with the situation who asked not to be named because they were sharing sensitive material, Telecel intends to contribute to the acquisition’s funding by eventually selling the mobile towers owned by the Ghanaian company.
Source: Ghanatodayonline.com/Nana Kwaku Boffah
