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The government of Ghana acquired ailing telecoms network AirtelTigo for $1, according to Ghana’s communication and digitisation minister, Ursula Owusu-Ekuful.
She said it was never true that the government bought the company for $20 million as being speculated by other media houses.
She, however, revealed that some debts accrued by AirtelTigo amounting to $100 million owed to Standard Bank will be structured by the government and paid off, Accra-based Starr FM reported on its website.
She added that 50 percent of that debt has been forgiven by the bank and the remainder 50 percent will be paid off by the government of Ghana.
The government of Ghana last week signed an agreement with telecommunications company AirtelTigo for the transfer of ownership to the state.
The government of Ghana and the parent companies of AirtelTigo, Bharti Airtel Ghana Holdings B.V., MIC Africa B.V signed the transfer after they concluded negotiations to transfer the shares of the company to the Ghana government.
The transfer of ownership comes after AirtelTigo in June 2020 announced its decision to exit the Ghanaian market.
This agreement transfers all customers, assets, and agreed 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 being utilized by the government,” Communication Minister Mrs. Ursula Owusu-Ekuful stated after the signing of the agreement.
Source: Daily Mail GH with additional files from starrfm.com.gh
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