The Minority in Parliament has rejected the proposed Telecel takeover of AT, formerly AirtelTigo.
The minority have accused the Minister of Communications and Digitalisation, Sam George, of rejecting a US$150 million investment bid.
According to the minority, Sam George rejected the US$150 million bid from Rektron/Afritel in favour of what they describe as a “less transparent and questionable” merger deal.
Member of Parliament’s Communications Committee, Matthew Nyindam, argued that Sam George’s handling of the transaction was marked by secrecy, inconsistencies, and conflict of interest.
He warned the deal could lead to the collapse of Ghana’s only solely state-owned telecommunications company.
Addressing a press conference in Accra on Wednesday, October 15, he stated, “The minister’s management of this transaction lacks transparency and proper direction. It is riddled with inconsistencies and self-interest, and risks handing over a critical national asset to a private foreign company without accountability”.
“Rektron’s proposal went beyond the initial US$150 million capital injection, outlining a long-term investment plan of up to US$1 billion to expand AT’s network, modernise infrastructure, and strengthen 4G and 5G capacity over a five-year period”.
He quizzed, “How does one reject a US$150 million investment proposal with a billion-dollar expansion plan for a deal that brings only US$50 million to the table?”.
The minority added, “We have established that the Minister of Communications and Digitalisation failed to honour a US$5 million payment commitment to the American Tower Company (ATC), a key service provider to AT”.
“Because of the minister’s failure to pay ATC, several tower sites were shut down in September, forcing AT customers to roam on Telecel’s network. This led to an estimated GH¢7 million loss in revenue to AT within that month alone,” he alleged.
The group added, “After announcing a deal with Rektron/Afritel and appointing KPMG as transaction advisors, the minister suddenly shifted to a merger plan with Telecel without any consultation or clear justification.”
“Why announce a merger publicly only to pull it down later? The secrecy and confusion surrounding this deal raise legitimate concerns about what the minister is hiding”.
AT is a strategic national asset that must be safeguarded. We cannot allow a deal that jeopardises 300 employees, 200 contract staff, and over 10,000 indirect jobs,” Mr Nyindam said.
The Minority is demanding:
“* An immediate halt to the current restructuring or consolidation process;
* A comprehensive parliamentary inquiry into the circumstances surrounding the transaction;
* Full disclosure of all related agreements, correspondence, and reports;
* Release of transactional advice, including recommendations from AFROTEX/Rektron on the “highest and best use” of AT Ghana;
* A thorough financial assessment of AT Ghana to determine its debt levels and resolve the impasse that led to service disruptions”.
Nyindam insisted, “Any decision regarding the future of AT must be subject to full parliamentary scrutiny”.
Meanwhile, Sam George, at a press conference on September 5, the Minister rejected reports describing the situation as a merger or acquisition.
He stated, “This is not a merger, it is also not an acquisition. We are dealing with a force majeure situation, and the recommendations from the transaction advisor will lay out a clear path for government consideration.”
See the post below:
Minority rejects acquisition of AT by Telecel…#GHOneNews #EIBNetwork #GHOneTV #NewsAlert pic.twitter.com/Y3sdD5mhnF
— GHOne TV (@ghonetv) October 15, 2025