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.
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.”
blogpay
Total Comments: 0