While the stratospheric ozone protects the biosphere against ultraviolet (UV) radiation, tropospheric ozone acts like a greenhouse gas and an indicator of anthropogenic pollution. In this paper, we combined ground-based and satellite ozone observations over Irene site (25.90 • S, 28.22 • E), one of the most ancient ozone-observing stations in the southern tropics. The dataset is made of daily total columns and weekly profiles of ozone collected over 20 years, from 1998 to 2017. In order to fill in some missing data and split the total column of ozone into a tropospheric and a stratospheric column, we used satellite observations from TOMS (Total Ozone Mapping Spectrometer), OMI (Ozone Monitoring Instrument), and MLS (Microwave Limb Sounder) experiments. The tropospheric column is derived by integrating ozone profiles from an ozonesonde experiment, while the stratospheric column is obtained by subtracting the tropospheric column from the total column (recorded by the Dobson spectrometer), and by assuming that the mesospheric contribution is negligible. Each of the obtained ozone time series was then analyzed by applying the method of wavelet transform, which permitted the determination of the main forcings that contribute to each ozone time series. We then applied the multivariate Trend-Run model and the Mann-Kendall test for trend analysis. Despite the different analytical approaches, the obtained results are broadly similar and consistent. They showed a decrease in the stratospheric column (−0.56% and −1.7% per decade, respectively, for Trend-Run and Mann-Kendall) and an increase in the tropospheric column (+2.37% and +3.6%, per decade, respectively, for Trend-Run and Mann-Kendall). Moreover, the results presented here indicated that the slowing down of the total ozone decline is somewhat due to the contribution of the tropospheric ozone concentration.