The Ghanaian government has distanced itself from a report produced by a committee it set up to scrutinise the sale of its telecoms firm to Vodafone. The report said Ghana Telecom, GT, was sold to the United Kingdom, UK-based company for less than it was worth, maintaining that the sale of GT had been "unconstitutional" and "illegal". Vodafone bought a 70 per cent stake in GT and its assets for $900 million last year.

But the country`s communications minister said the committee had overstepped its remit and should wait for the Supreme Court to rule on the legality of the sale. The court is expected to deliver a preliminary judgment on the case later this month. "The government… cannot be associated with comments or reports that seek to undermine our respect for independent state institutions and the rule of law," Haruna Iddrisu, Ghana`s communications minister said.

Analysts reasoned that in distancing itself from the report that it commissioned, the government is pre-empting criticism from the opposition that oversaw the sale of GT while in power. Ministers are also trying to reassure foreign investors that they are safe so long as their transactions respect local and international laws.

The report, compiled by a government review committee, said "through a complicated series of financial arrangements" the actual price released was less than $267 million — far less than the annual earnings potential of GT.

Compiled by Muyiwa Lucas with agency reports.