26 October 2007

Tanzania: Celtel Acquires Stake in Ghanaian Firm

Celtel International has announced signing of an agreement to acquire 75 per cent of Western Telesystems Ltd (Westel) from the Ghanaian Government for $120 million.

Westel is the second national operator in Ghana and is licensed to provide fixed and mobile telecommunications services. "We are very excited to enter Ghana, one of the most important markets in Africa.

We look forward to offering Ghanaians the quality telecommunications services which we provide in all the countries in which we operate,"said Dr Saad Al Barra, the chief executive officer of Zain - Celtel's parent company. The statement by Zain (formerly MTC Group) was released in Dar es Salaam on Tuesday.

"Based on our pan-African experience we are confident that the increased competition in telecommunications will benefit the people of Ghana and support the robust economy of the country,"he said.

Copyright © 2007 The Citizen. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.