(Ecofin Agency) - Vodafone Ghana does not intend to list part of its shares on the Ghana Stock Exchange (GSE) as the government required before the allocation of a 4G license.
The telecom firm, which obtained its license in December 2018 with $30 million investment, estimates that it already meets the government’s requirements about the ownership of part of a firm’s share by Ghanaians.
Yolanda Cuba, managing director of Vodafone Ghana declared: “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”.
Reacting to the managing director’s statement, Kofi Yamoah, managing director of the 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 said.