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Acquisition of AirtelTigo in advanced stages – Gov’t

The Government of Ghana’s acquisition of 100 percent shares of joint venture AirtelTigo, a telecommunication company has reached advanced stages of discussions for the conclusion of the commercial agreement for the transfer.

A press statement issued by the GoG said:” “Given the multiplier impact the telecommunications sector has on the economy and various related industries, the Government of Ghana has entered into this agreement to ensure that thousands of Ghanaian jobs are safeguarded.”

Bharti Airtel’s board on Wednesday cleared the sale of its Ghana joint venture – AirtelTigo – to the government in the West African country and is taking an impairment charge of Rs184.1 crore for the transaction.

The proposed deal would lead to 100% shares of Airtel Ghana Ltd, also known as AirtelTigo transferred to the Government of Ghana, along with all its customers, assets, and agreed liabilities.

The government in its statement said the deal will be concluded by the execution of definitive agreements shortly.

The statement further said the move is aimed at protecting jobs and safeguarding the interest of stakeholders of AirtelTigo which has some 5.1 million customers.

“The Government of Ghana through this transaction, will temporarily operate this national asset in the best interest of the nation, and ensure the protection of the interests of all employees, customers and stakeholders, and a continuation of the digital transformation in Ghana.”

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