The government of Ghana and parent companies of AirtelTigo, Bharti Airtel Ghana Holdings BV and MIC Africa BV have concluded negotiations and signed an agreement to transfer the company’s shares to the government of Ghana after announcing the company’s exit from the Ghanaian market last year.
This agreement transfers all customers, agreed assets and liabilities of AirtelTigo to the government of Ghana.
“We consider this a positive step as it adds to the growing portfolio of digital infrastructure assets that are used by the government,” a government statement said.
“The government will manage these national assets in the interest of the nation, the company, and the telecommunications industry, ensuring that the interests of all employees, customers, contractors, suppliers and stakeholders are protected and the sustainability of Ghana’s digital transformation.”
The Minister of Communications and Digitization, Ms. Ursula Oso-Ikovol (MP) signed on behalf of the Government of Ghana, while Ms. Gatina Katharina Jonken Van de Vrede, Mr. Martin P. Fréchette, Mr. Timothy Pennington and Mr. Eric signed Nana Nipah and Mr. Vish Ashiagbor on behalf of Sellers entities.
In October 2020, Airtel and Millicom announced their exit from the Ghanaian market, and this agreement concludes extensive negotiations between the parties to ensure a smooth transition and continued operation of AirtelTigo thereafter.
The telecom sector is of strategic importance to the government, and it is vital that the sector remains healthy, dynamic, vibrant and most of all competitive. “We are determined to make Ghana the digital hub for the subregion, and this acquisition is a step in the right direction,” the government said in a statement.
Source: Citi News