The Ghana Stock Exchange wants Vodafone to list on the bourse after acquiring 4G spectrum

The Managing Director of the Ghana Stock Exchange (GSE) Kofi Yamoah
  • In 2018, Vodafone acquired the second 4G spectrum at a cost of 30 million dollars.  
  • MTN acquired the first 4G spectrum in 2015 after which listed on the bourse years later.
  • The Ghana Stock Exchange is hoping to get Vodafone to also list on the bourse.

The Chief Executive Officer (CEO) of the Ghana Stock Exchange has said that they are working with the Ministry of Communications ensure that telecom company Vodafone floats part of its shares on the bourse as a requirement after it purchased a 4G spectrum.

Kofi Yamoah explained that such a move will give Ghanaians the opportunity to own a part of the telecom company that was originally Ghanaian and also strengthen Vodafone’s operations in the country.

 “When Ghana Telecom was being sold to Vodafone in 2008, part of the agreement required that Vodafone lists on the market but till now it is yet to be fulfilled”

Yamoah believes that this is the opportune time for the telco to list since it has been granted another opportunity by with the 4G spectrum

“I had a discussion with the Ministry of Communications and my view is that Vodafone must be made to list on the Ghana Stock Exchange just it was done to MTN when they purchased the spectrum”

MTN acquired a 4G spectrum for 67.5 million dollars in 2015 and as part of conditions was required to float at least 10 percent shares to the public which it did.

Vodafone in 2018, acquired the second 4G spectrum at a cost of 30 million dollars.  

Even though Vodafone got the cost of the spectrum less than what MTN paid for, the regulator, the National Communications Authority (NCA) in a statement explained that Vodafone negotiated for the cost.

How MTN listing boosted GSE

After MTN listed on the bourse, data available shows that the GSE market’s capitalization increased by some 16.4 percent, from 55.97 billion cedis to 65.19 billion cedis.

This was a great feat since the market was rebounding from poor performances in 2016 and 2017. 

Mr Yamoah believes the market will keep performing better if Vodafone lists on the bourse.

However, Vodafone has already explained that they do not see the need to list on the bourse now since the government through the people of Ghana own 30 percent share in the company.


Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:


Our newsletter gives you access to a curated selection of the most important stories daily.

Welcome to the Pulse Community! We will now be sending you a daily newsletter on news, entertainment and more.