Accra, May 18, GNA – Mr. Haruna Iddrisu, Minister of Communications, on
Monday inaugurated a five-member committee to review the sales and purchase
agreement (SPA) between the government of Ghana and Vodafone
International Holdings BV.
The five-member committee comprised of Mr. Justice Emmanuel Addo, a
retired Appeal Court Judge, Chairman, Mrs. Ama Banful, representative of the
Attorney-General and Ministry of Justice, Mr. Benjamin Cudjoe, Assistant
Auditor-General, Mr. Opoku Gyamfi Boateng, Financial Consultant and Mr.
Issah Yahaya, representative of the Ministry of Communications.
The committee would be assisted by a four member technical team
comprising Mr. Raymond Atuguba, a legal consultant, Dr. Ben Adu, a
communications consultant, Mr. Michel Bow-Amuah, a network consultant and
Ms Rita Sraha, a financial expert.
Mr. Iddrisu spelt out a 15-point terms of reference for the committee and
gave them 90 days to present a report to the ministry.
He charged them to uphold the principles of transparency and fairness in
The terms of reference for the committee included why the National Fibre
Optics backbone was included in the sale, justification for the indemnity clause
in the SPA and possibly its removal, why some the Ghana Telecom (GT)
liabilities were not covered under the SPA, the exemption regime under the
SPA in relations to offers of 3G licenses, how much capital Vodafone has
invested since the take over and issue about the change of name and
headquarters of GT.
Mr. Iddrisu noted that the review would be done in good faith and without
prejudice, saying that it would focus on the SPA but not interfere with the
Parliamentary action in approving the agreement.
“We trust that the review would provide us with tools to advise Parliament to
take a closer look at aspects of the SPA,” he said.
The minister said the review was in fulfilment of a manifesto pledge to the
people of Ghana, adding that it was necessary for the government to keep faith
with the electorate and deliver on their promises.
“You may also recall that the Ghanaian public and the political parties in
opposition at the time raised critical questions on the transaction.
“We need to find answers to these questions - I wish to assure you that the
review is being done to assuage the concerns of the Ghanaian public,”
Mr. Iddrisu said after the review government would be in the position to
take a decision that would be in the strategic interest of the country with regards
“I wish to assure potential investors that we will continue to encourage
foreign investment in Ghana, provided those investments are legitimate and
genuine,” he said.
Mr. Iddrisu said government, for instance, believed that the name should
remain as GT/Vodafone instead of the new name, Vodafone.
Mr. Justice Addo, assured the minister that the committee would scrutinise
the SPA thoroughly and provide government with the needed information for a
decision advantageous to Ghana.
Vodafone acquired 70 per cent of The Enlarged Ghana Telecom for US$900
million amidst hue and cry from the public.
Some individuals have taken the government to court since, seeking a review
of the transaction but Vodafone has welcomed a review by the government.
Meanwhile the Network of Communications Reporters (NCR) has
welcomed the review and appealed to the committee to thread cautiously not to
compromised Ghana's image as a favourable investment destination.
Mr. Charles Okine, Dean of the NCR said in the same manner the approval
of the SPA was made public, the findings and recommendations of the review
should also not be shielded in secrecy.
He welcomed Vodafone into the country and expressed the hope that it
would bring its international expertise to bear on the country's telecom industry
and on the economy as a whole.