The Government of Ghana has fully acquired 100 per cent shares in telecommunication network AirtelTigo, along with all customers, assets, and liabilities.
With this, the telecommunication network will now operate as a state-owned entity. The agreement for the transfer of AirtelTigo to the government was announced in April this year.
This is what owner of the company said “This is further to our announcement dated October 27, 2020, and April 16, 2021, regarding the Government of Ghana’s takeover of ownership of AirtelTigo Joint Venture. We wish to update that the transaction has been completed and 100% shares of AirtelTigo have been transferred to the Government of Ghana,” Bharti Airtel said in the filing dated November 3, 2021.
This is what the the minister posted sometime ago concerning the the deal “Some people find it very difficult to believe we can negotiate good deals for government. I signed the AirtelTigo contract. We acquired it for just a dollar.
Someone, an MP, says he heard me say we paid $25 million. A barefaced lie…. blatant untruth.
Please ask Sam George where he heard that. Then Sit back and listen to long, English grammar and drama…. just keep your eyes on the ball. How much did we pay to acquire the company? 1 dollar, Simple!!”
Ursula Owusu-Ekuful, the Minister of Communication and Digitalisation signed the deal on behalf of the Ghana government whereas 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.
It is uncertain how much it cost the government to takeover the ownership of AirtelTigo