14 DAY TRIAL // Vodafone, the giant global mobile operator, has announced it will acquire 70% of Ghana Telecom (also known as Ghana Telecommunications Company Limited) from the Government of Ghana, for a total of about $900 million (274 million Euros or 454 million GBP).
Ghana Telecom is the main supplier of fixed telephony services in the Central African country, but it's only the number three mobile operator in terms of subscriber number. The company's mobile division is called Onetouch and, with around 1.4 million users, it's behind Areeba (4 million customers) and Tigo (2.4 million customers). Most probably, after Vodafone and the Government of Ghana perfect all the details for Vodafone's takeover, Onetouch will be rebranded with a new name. Maybe "Vonetouch" or "Vodatouch" or something along these lines - we'll find out soon.
Starting the fourth quarter of 2008, Vodafone will expand and modernize the current network of Ghana Telecom. In the next few years, Vodafone will probably try to make Onetouch (or whatever its name will be) the leading Ghanaian mobile operator.
Arun Sarin, Vodafone's Chief Executive, stated about the new acquisition: "Ghana is one of the most attractive markets in Africa with mobile subscribers growing at more than 55% p.a. and mobile penetration around 35%. Our extensive operating experience together with our portfolio of products and services position us well to deliver a superior mobile experience to Ghanaian customers and significantly improve financial performance. I expect that our investment will generate substantial benefits for Vodafone and for the Ghanaian economy and we are delighted that we will be working in partnership with the Government of Ghana."
Out of 23 million people living in Ghana, only about 8 million own a cell phone. Although it can't be considered a rich country, Ghana is among the few African countries with a stable economy, this being one of the main reasons for Vodafone's investment there.