Bharti Airtel Ghana Holdings B.V. and MIC Africa B.V, parent companies of AirtelTigo have concluded negotiations and signed an agreement to transfer the shares of the company to government following the announcement of the company’s departure from the Ghanaian market last year.
The agreement mandates the transfer of all customers, assets and agreed liabilities of AirtelTigo to government.
Minister for Communications and Digitalisation, Ursula Owusu-Ekuful, in a statement stated that government will operate the now national asset in the best interest of the nation and ensure the protection of the interests of all employees, customers, contractors, suppliers and stakeholders as well as sustain the digital transformation of Ghana.
The sector minister signed the deal on behalf of the Government of Ghana, while 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.
In October 2020, Airtel and Millicom announced that they were exiting the Ghanaian market and this agreement concludes the extensive negotiations between the parties to ensure a seamless transition and continued operation of AirtelTigo thereafter.
“The telecommunications sector is of strategic importance to the government and it is critical the sector remains healthy, dynamic, vibrant and most importantly, competitive. We are determined to make Ghana the digital hub of the subregion and this acquisition is a step in the right direction,” the statement noted.