AirtelTigo transfers full ownership to the Government of Ghana
This week the Government of Ghana and AirtelTigo have announced that they are in advanced stages of discussions for the transfer of AirtelTigo shares to the Government of Ghana along with all customers, assets and agreed liabilities. The transaction will be concluded by the execution of definitive agreements shortly.
Both the government of Ghana and AirtelTigo refused to explain why AirtelTigo would hand over the assets of their business to the government of Ghana. AirtelTigo also did not explain why they did not sell the business if it was in financial trouble and they could not turn it around.
The Government of Ghana would only say, in a press statement, through this transaction, they would temporarily operate AirtelTigo as a national asset in the best interests of the nation. They will also ensure the protection of the interests of all employees, customers and stakeholders, and the continuation of the digital transformation in Ghana.
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 safe guarded. It is of critical importance that the telecommunications sector remains healthy, dynamic, vibrant, and most importantly, competitive.