The government of Ghana has received the shares of telecommunication company, AirtelTigo following their decision in 2020 to exit the Ghanaian market.
The parent companies of AirtelTigo, Bharti Airtel Ghana Holdings B.V., MIC Africa B.V have concluded negotiations and signed an agreement to transfer the shares of the company to the Ghana Government.
This move facilitates the transfer of all customers, assets and agreed liabilities of AirtelTigo to the government.
In a press release signed by the Minister for Communications & Digitalisation, Ursula Owusu-Ekuful, it is stated that “this a positive step as it adds to the growing portfolio of digital infrastructure assets being utilised by the government”.
The agreement was signed by the Minister on behalf of the government, while Ms. Jatina Catharina Uneken-van de Vreede, Mr. Martin P Frechette, Mr. Timothy Pennington, Mr. Eric Nana Nipah and Mr. Vish Ashiagbor signed on behalf of the seller entities.
The government assured that it will “operate this national asset in the best interest of the nation, the company, telecommunications industry, and ensure the protection of the interests of all employees, customers, contractors, suppliers, stakeholders and sustain the digital transformation of Ghana”.
In October 2020, Airtel and Millicom revealed that they were terminating operations in the Ghanaian market and this agreement concludes the extensive negotiations between the parties to ensure a seamless transition and continued operation of AirtelTigo thereafter.
“The telecommunications sector is of strategic importance to the government and it is critical the sector remains healthy, dynamic, vibrant and most importantly, competitive. We are determined to make Ghana the digital hub of the subregion and this acquisition is a step in the right direction, the Minister noted”.
Meanwhile, Mrs. Owusu-Ekuful, assured all local creditors of AirtelTigo that the government is committed to ensuring that all payment obligations are met.
According to her, some commercial loans that were weakening the balance sheet of the company have been forgiven as this, she believes, will revive other business partners of the company.