Vodafone Ghana has indicated it would be able to list on the Ghana Stock Exchange (GSE) after dealing with some debt restructuring issues with the government.
The telecoms firm was expected to list on the GSE as part of its takeover of the then Ghana Telecom.
However years after the takeover, Vodafone is yet to go public.
Chief Executive Officer of Vodafone Ghana, Yolanda Cuba told JoyBusiness they have made some progress with the government which has about 30 per cent stake in the company.
She said, “The whole thing around listing is hinged on satisfaction in our balance sheet, and also moving away from the negative equity which is one of the requirements before you can list.”
Yolanda Cuba added, “…Would take time to actually carry out because it’s dependent on the profit of the company to actually carry out what we call negative equity on the balance sheet of the company and like I said, that’s one of the listing requirements in Ghana.”
Improving Earnings
According to the Vodafone CEO, the company is making progress in returning to some good profits after it acquired Ghana Telecom in 2008.
“…And also in terms of what I mentioned around the balance sheet and structure of government, the government has actually shown incredible commitment to the sustainability of Vodafone Ghana and actually given us already the commitment around restructuring our balance sheet.”
Restructuring
She added, “So we’ve made progress and I’m grateful for the progress that we’ve made and basically right now we’re trying to iron out a few issues before we can implement the restructuring.”
Yolanda Cuba said, “So worst case scenario on the restructuring if I have my way, it would be done by the end of this year and then the only thing that we would be dealing with is the negative equity and then when the shareholders decide when they want to do it.”
She added, “It’s not the call of management, it’s about when to list.”
Vodafone is said to have moved to third place in terms of market share after Airtel/ Tigo merged.
4G Service
On acquiring a 4G service, the Vodafone boss noted that it is still interested in taking up the service but that would be based on a “right” price being offered by the government.
Latest Stories
-
Man remanded for allegedly stabbing businessman with broken bottle and screwdriver
12 mins -
KPMG’s report on GRA and SML deal, government white paper on report and matters arising
22 mins -
I won’t reply to Chris Brown tour criticism – Ayra Star
25 mins -
British Columbia to back off drug decriminalisation project
33 mins -
Veteran commentator Joe Lartey Sr dies at 96
34 mins -
Livestream: Newsfile discusses KPMG report on SML deal, ILO on SSNIT reserves and NDC’s running mate
1 hour -
Ghanaian activist hugs over 1,100 trees in an hour to set Guinness World Records
1 hour -
Mathew Anim Cudjoe’s Dundee United promoted to Scottish Premiership after Championship win
1 hour -
NSMQ star Jochebed Adwoa Sutherland sweeps 12 awards at UG Vice-Chancellor’s Ceremony
2 hours -
Ghana’s Education Quality ranked 125 out of 183 countries in latest Global Youth Development Index
2 hours -
Emma Stone wants people to use her real first name
2 hours -
Verna Purified Water emerges as ultimate winner at Ghana Beverage Awards 2023
3 hours -
FIFA Club World Cup 2025: Sundowns, Esperance join Al Ahly and Wydad as CAF representatives
6 hours -
CAFCL: Al Ahly set up historic final with ES Tunis
7 hours -
We didn’t sneak out 10 BVDs; they were auctioned as obsolete equipment – EC
10 hours