UK-based Vodafone Group has rebranded Ghana Telecom (GT) almost a year after acquiring a 70% stake in the national PTO. Vodafone bought the stake for USD960 million on a debt-free, cash-free basis but retained the GT name in the short term. Local press reports say the change in brand came into effect following the Easter holidays in the country. The UK mobile giant has pledged to invest USD500 million in the telco, which is the leading fixed line services provider and the third largest mobile operator in Ghana, over the next five years. It hopes to increase its mobile market share to 25% in the medium term.
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