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Committee out with Vodafone report

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The Inter-Ministerial Committee that reviewed the sale and Purchase Agreement, SPA, for 70% share in Ghana Telecom has recommended to government to consider the option of re-negotiating the agreement with Vodafone.  

This was contained in statement on the Inter-Ministerial Committee report released by the Deputy Chief of Staff,  DR. Valerie Sawyyer.  According to the Committee, the terms of the sale and Purchase Agreement are inimical to Ghana’s interest.

In the opinion of the Committee, the SPA in its negotiation and ratification breached many laws of the country including the 1992 constitution, the National Communications Authority Act and Regulations, and the Internal Revenue Act, Act 592 of 2000.

The report said the government of Ghana did get value for money from the sale, and through a series of complicated financial arrangements, the government of Ghana realized only $226.57 million from the SPA.

Dr. Sawyerr assured all Ghanaians that government remains committed to the promises and pledge to ensure that any transaction such as in the case of  GT will take full cognizance of and be consistent with the spirit and letter of the laws of Ghana.

Source: GBC NEWS

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