Rationalisation 'Ghana Telecom was sold because it was inefficient' - Nana Addo

Nana Akufo-Addo said he finds it difficult to understand why there's no Ghanaian company in the Telecom sector in Ghana

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Nana Akufo-Addo has revealed that the Ghana Telecom was sold to Vodafone Ghana because it was an inefficient company.

Nana Addo in an interview with Citi FM said, "You can't say the private sector is engine of growth when you don't do anything about it."

It would be recalled that former President John Agyekum Kufuor's government sold off the national telecommunications company for two hundred and sixty-six million, five hundred and seventy dollars ($266.57m).

According to an inter-ministerial committee which was set up in May 2009 to review the sale of Ghana’s 70 per cent shares in Ghana Telecom to Vodafone, President J. A. Kufuor appended his signature to an agreement between Vodafone UK and Ghana Telecom, while Parliament ratified an agreement between Vodafone International of Holland and Ghana Telecom.

 

Sale of the company in 2006 generated huge public uproar with the then biggest opposition party, the National Democratic Congress in alliance with the Committee for Joint Action led by Kwesi Pratt Jr and other well-meaning Ghanaians taking to the street in series of demonstrations to vent their anger.

The anger of the people stem mainly from two reasons, one of which was patriotism; been the only state telecommunication organization and danger to national security if it is sold. They further argued that the sum offered was paltry for such a strategic state asset.

 

But Nana Addo on his part said, the company "was sold to Vodafone Ghana because it was an inefficient company.

I find it difficult to understand why there's no Ghanaian company in the Telecom sector in Ghana," he added.

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