Vice President Mahamudu Bawumia has called on telecommunications companies operating in the country to go beyond seeking to expand the physical infrastructure of their operations to investing in human and other resources that are at the heart of their offerings to the Ghanaian and African market.
Speaking at the commencement of operations of Telecel Ghana, the new majority shareholders of the company formerly known as Vodafone Ghana, on Monday March 11, 2024, Dr Bawumia reminded telcos, fintechs and stakeholders in the technology ecosystem that one of the most sure ways to ensure lasting success is investing in youth, who are the future of every endeavor.
“Let me challenge you to look beyond the physical infrastructure. Your corporate social responsibility must include a deliberate investment and development of the digital capabilities and capacities of young Ghanaians across the country at all levels. As we celebrate this momentous occasion, remember that you also have a role in shaping the future of our nation,” he reminded them.
Dr. Bawumia reminded the leadership of Telecel that innovation is the heartbeat of success in telecommunications and indeed in the business environment, and challenged them to make a difference in the Ghanaian telecommunications market with offerings that will make their brand attractive.
“In the ever-evolving technology landscape, innovation is key to staying ahead. Your customers always demand an accessible, secure, affordable and reliable network. I am happy about Telecel’s commitment to expand its network and bring more innovation to this space. In this regard, you have the solid support of the government.
He continued: “I am also pleased to see the emphasis on inclusivity and accessibility in your services. In Ghana, as in many parts of the world, there are still underserved communities with limited access to telecommunications infrastructure. By expanding your reach and investing in infrastructure development, you not only expand access to communication, but also create opportunities for economic growth and social empowerment for the underprivileged.
Extolling the virtues of the introduction and growing use of Mobile Money, Vice President Bawumia urged Telecel management to explore the many opportunities available to deepen financial inclusion, saying that while much had been done, more needed to be done.
The value of mobile money transactions in December 2016 was GH¢78.5 billion. However, since the introduction of Mobile Money Interoperability between different networks and bank accounts, there has been a very rapid expansion in the volume of transactions. In 2023, mobile money transactions reached a record GHC 199.3 trillion, representing a 64.3% increase from the previous year. This has made Ghana the number one country in Africa for financial inclusion because we have achieved 100% availability and inclusion for every Ghanaian.
“The opportunities created by the Mobile Money platform, supported by the introduction of Mobile Money Interoperability, are enormous. I commend your company for the role it has played in the past, but more importantly, I urge you to try to do more, as mobile money is one of the surest ways to advance financial inclusion.”
Welcoming the Telecel Group to Ghana with a hearty ‘Akwaaba’, Dr Bawumia urged them to be worthy partners in national development.
“I applaud your commitment to corporate social responsibility through the Telecel Foundation and the Africa Start-Up Initiative Program (ASIP). Your initiatives in support of education, healthcare and support for start-ups reflect your dedication to making a meaningful impact beyond business success. This is perfectly aligned with our government’s vision of building a fairer and more prosperous society for all Ghanaians.
“As key players in the telecommunications industry, I urge you to uphold the highest standards of ethics, transparency and corporate governance in all your endeavours. I have no doubt that this brand will not only thrive, but will contribute significantly to the progress of our country’s telecommunications sector.”
Telecel Group
Telecel Group acquired Vodafone International’s 70% stake in Ghana Telecom in February 2023, with the Government of Ghana retaining its 30% stake. The two organizations have since been working to synergize their operations, with changes in leadership and operations. Patricia Obo-Nai, the first Ghanaian CEO of Vodafone Ghana, has been appointed as the first CEO of Telecel Ghana.
Operating in more than 27 countries, with over six million active subscribers, Telecel aims to digitally empower Africa through technology, connecting remote areas for inclusion and focusing on education as a catalyst for growth and accessibility, according to its Board of Directors Council.
Speaking at the launch, Telecel Group Chairman and Co-Founder, Mr. Nicolas Bourg, said the company intends to focus on “positive disruption and innovation in the Ghanaian telecommunications market”, adding that “we have chosen to invest in Ghana because of its obvious potential youth and the people of Ghana”.
Distributed by APO Group on behalf of the Presidency, Republic of Ghana.
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