The government says it is on course to privatize the Ghana Telecommunications Ltd.(GT).

The Minister of Communication, Dr. Benjamin Aggrey Ntim said the transaction advisors have been working assiduously to ensure that the final bidders are chosen on time.

On Monday, government selected the Ecobank Development Corporation (EDC) and Societe General (S-G) as transaction advisors for the valuation of the company.

The two companies are to serve as advisors on the valuation of the assets of GT so that the shares could be priced.

They are also expected to advise the government on which strategic investor to choose for GT.

Even though, France Telecom has expressed interest in controlling a substantial stake in GT when the privatization process is complete, it is not known if it will succeed in that bid.

About 51% of GT shares are expected to be offloaded to a strategic investor, while the remainder will be listed on the Ghana Stock Exchange (GSE).

Government is expected to retain about 20% stake in GT.

Source: Daily Guide