Vodafone Ghana, formerly Ghana Telecom, is the national telecommunications company of Ghana. In 2006, it had around 400,000 customers for fixed and mobile telephony and Internet services.<\/p>\n
On 3 August 2008 it was announced that Vodafone had agreed to acquire 70% of Ghana Telecom from the Ghanaian government at a cost of US$900 million and a total enterprise value of approximately US$1.3 billion. After the transaction closed, Vodafone had a 70% stake in the company, while the Ghanaian government retained a 30% stake. The sale was supported by President John Agyekum Kufuor but strongly opposed by the opposition party which would win the presidential elections a few months later. The new president John Atta Mills, head of the National Democratic Congress party (NDC) also launched an investigation into the deal after being elected president a claiming that the government “did not get value for money”. Despite these claims Vodafone a few months later would write down the value of its stake in Ghana Telecom by \u00a3250m as the economic climate worsened, damaging the business’s prospects.<\/p>\n
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