Mortgages Direct

Mobile operator Vodaphone has bought a slice of a network in Ghana, Africa, as it attempts to cash in on emerging markets.

The company has bought a controlling stake in Ghana Telecom from the country’s government, shelling out $900 (£481.4 million) in the process.

Mobiles are growing more popular in the North West African country, with 2.7 million people signing up to contracts in 2007.

Vodaphone’s deal gives it a 70 per cent share in the third-biggest mobile group in Ghana and the largest landline operator.

Arun Sarin, Vodafone chief executive, said: "Ghana is one of the most attractive markets in Africa with mobile subscribers growing at more than 55 per cent per annum and mobile penetration around 35 per cent."

More expansion could be on the cards, with a spokesman also adding the stable political situation in the country had helped seal the deal.

Ghana Telecom has a 17 per cent share of the country’s market, which translates to 1.4 million customers.

At the end of 2007 Vodafone had 252 million global customers, with more than 100 million of them in the growing markets of Eastern Europe, the Middle East, Africa and Asia.

Looking for Mobile Phone Deals?

Ongoing watchdog probes into the PPI market have not hit MPPI sales, the majority of brokers have said.

Results of an internet study by The Mortgage Alliance (TMA) and Cardiff Pinnacle show around two thirds of respondents thought adverse media coverage and investigations have not harmed the product’s attractiveness.

Around 21 per cent thought the FSA and Competition Commission actions have party hit sales with 15 per cent thinking they had had no impact.

The same detailed study also showed brokers and their clients thought it important they were to be able to advise on property-related and mortgage insurance.

Around half of those questioned also thought the ability to give advice on these topics was ‘extremely important’. Only four per cent said it was not important.

Brokers were also asked how they preferred commission to be paid, with 44 per cent saying they were not bothered whether it arrived monthly or annually in advance.

TMA boss Phil Whitehouse said: “This survey conjured up some very interesting points and certainly helped us garner a better understanding of what brokers are looking for to get the most out of this important sector of the market.

“A good mortgage club should offer brokers added value in order to help them increase sales and income and, at TMA, we will certainly be looking at elements from this survey.”

Information from the survey, initiated by TMA, will be used to highlight pitfalls or opportunities in the PPI market.

Cardiff Pinnacle national sales manager John Harrop added the study had proved “invaluable” and said it would provide a framework for future product development.