Communication Minister, Haruna Iddrisu says government’s decision to re-engage Vodafone UK over the 70 per cent sale of GT is in the best interest of the country.
Speaking to Joy News’ Evans Mensah on Tuesday, the minister explained government is not interested in reviewing the entire Sales and Purchase Agreement, but maintains portions of it are inimical to the interest of the country and government will correct that.
He cited the National Fibre Optic Backbone and other landed properties which he said will be re-negotiated.
He is not too sure if the the re-negotiation will increase the overall transaction sum of $900 million.
He pointed out that the re-negotiation is perfectly in line with clause 34 of the Sales and Purchase Agreement (SPA) the government of Ghana entered into with Vodafone.
The communications minister stressed the decision is in keeping to international transactions, fully aware that any breach could lead to undermining the investor confidence in the country.
Government’s position follows recommendations from an inter-ministerial committee set up to review the 70 per cent sale of GT to Vodafone in August last year.
The sale agreement provoked intense debate between the erstwhile Kufuor led administration and the NDC led opposition, with the latter promising to review it when it wins power.
Haruna Iddrissu said the government readily accepts some of the recommendations by the Mr. Justice Emmanuel Addo chaired committee and commended the entire members for a thorough work done.
Even though he admits government of Ghana duly received $900 million from Vodafone for the 70 per cent shares of GT, a chunk of that amount he said has gone into the payment of debts and other liabilities prior to sale.
He therefore welcomed calls for the investigations and audit into the management of GT by the Telenor/Telecom Management Partners (TMP) and the IMC led by Engineer Dickson Oduro Nyaning.
Meanwhile, Bright Akwete one of the persons who are in court over the Sales and Purchase Agreement says he agrees with the decision taken by government knowing to well the implications if the transaction was abrogated.
He insists however that he will proceed with the legal action against government over the sale.
