Ghana called on to list Vodafone, Airtel shares

Mergers, Acquisitions and Financial Results

Leading officials within the Ghana government have called on the country to float its minority shares of Vodafone Ghana and Airtel Ghana in an effort to boost productivity and trade volumes on the country’s stock market.

The government of Ghana has a 30 percent share of Vodafone Ghana and 25 percent of Airtel Ghana via the Ghana National Petroleum Corporation (GNPC).

Ghana Stock Exchange Chairman Sam Mensah said at the exchange’s annual general meeting in Accra that these stakes should be “separately floated in the interest of the bourse and the market at large.”

Mensah argued that the stocks would enable the market and could be of interest to investors.

He said Ghana needed to take “far reaching listing and divestiture decisions” to help support the growth of the GSE and the market at large.

Director General of the Securities and Exchange Commission Adu Anane Antwi also reiterated the call on government to make it compulsory for all telecommunication companies in the country to list a stake on the GSE after five years of operations.

The operators, in response, said they are considering the move to list on the GSE to “economically empower locals,”

Vodafone Ghana CEO Kyle Whitehill said he expects operators to list on the local bourse “in the next couple of years.”