Vodafone Ghana has ruled itself out of the current race for the 4G LTE market, citing its current financial standing and market dynamics.

“Over the long-term for us it is imperative to have access to 4G. It will actually ensure not just fast speed but network quality to all our customers, so from that perspective we are committed to 4G. But at this stage, however, when we look at the percentage of people with 4G-enabled phones it’s still around 1 percent of the Ghanaian population,” she said in a press conference in Accra.

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But Ms. Yolanda Cuba argued that the fraction of Vodafone Ghana’s 7 million customers who use 4G enabled phones do not make a business case for a 4G investment which requires $67.5million.

“If you are a market leader and you have dominance in the profit pool, not just the revenue pool, it’s much easier to say in order to protect or entrench your lead I’m willing to pay US$67.5million. If you’re not, it’s very difficult to justify that kind of investment. Do we need 4G spectrum, absolutely! But can we afford it? Unfortunately, not at this time,” she added.