Vodafone Ghana has stated that it does not plan to list its shares on the Ghana Stock Exchange (GSE) as required before they were allocated a 4G license.
The telecom firm obtained its license in December 2018 with $30 million investment.
Vodafone attests that it has already met the government’s obligations about the possession of part of the firm’s shares by Ghanaians.
Yolanda Cuba (Managing Director – Vodafone Ghana) said “We are not listing on the Ghana Stock Exchange. As it stands now, Ghanaians own 30 per cent of the company through the government of Ghana; this far exceeds the percentage required for listing so we have already satisfied that criteria”.
In reaction to her statement, Kofi Yamoah (Managing Director – GSE) explained that the 30% stake owned by the government could not be considered as public property.
“I would describe public ownership as an asset owned by the large public. If not, all the state-owned firms should be described as public but, realistically, they are not”, he added.