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General News of Tuesday, 7 June 2016

Source: kasapafmonline.com

Sale of Ghana Telecom best economic decision so far – Kan Dapaah

A Minister of State in the Kufuor Administration and Member of Parliament (MP) Mr Albert Kan-Dapaah has said the sale of Ghana Telecom by the erstwhile Kufuor administration has been one of the most viable economic decisions ever taken in the country.

The national telecommunications company was sold for $266.57 million in 2006 by the then NPP administration.

The move in 2006 was met with stiff opposition from the then biggest opposition party, the National Democratic Congress in alliance with the Committee for Joint Action led by Kwesi Pratt Jnr and other well-meaning Ghanaians.

Opposition thus took to the streets in series of demonstrations to vent their anger, leading to the setting up of an inter-ministerial committee later in May 2009 to review the sale of Ghana’s 70 per cent shares in Ghana Telecom to Vodafone.

However Mr. Kan Dapaah in an interaction with Fiifi Banson on Anopa Kasapa on Kasapa 102.5 FM said it was gratifying to see that the controversial move has turned out to be one of the meaningful economic decisions yielding much fruits in the system now.

“Do you appreciate it turns out to be one of the best economic decisions ever taken in this country? Dapaah quizzed saying that there haven’t been any regrets in the sale of Ghana Telecom to Vodafone -“Look at how well they are doing in making profits and we are taking huge dividends from our shares,” he added.

The sale of Ghana Telecom, according to him, made sense albeit a difficult decision at the time, adding that government needed huge investments to shore up operations of the the Ghana Telecom company as it was threatened by sharp competition growing at the time, hence the decision.