Audio By Carbonatix
The Government of Ghana has fully acquired 100 percent shares in telecommunication firm, AirtelTigo, along with all customers, assets, and liabilities.
With this, the telecommunication company will now operate as a state-owned entity.
The agreement for the transfer of AirtelTigo to the government was announced in April this year.
The takeover was indicated in a regulatory filing to the Bombay Stock Exchange from Bharti Airtel.
"This is further to our announcement dated October 27, 2020, and April 16, 2021, regarding the Government of Ghana's takeover of ownership of AirtelTigo Joint Venture. We wish to update that the transaction has been completed and 100% shares of AirtelTigo have been transferred to the Government of Ghana," Bharti Airtel said in the filing dated November 3, 2021.
Ursula Owusu-Ekuful, the Minister of Communication and Digitalisation signed the deal on behalf of the Ghana government whereas 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.
It is unclear how much it cost the government to takeover the ownership of AirtelTigo.
However, Mrs. Ursula Owusu-Ekuful in a Facebook post claimed that the government acquired it for "just a dollar"
Latest Stories
-
ECG Ashanti West plants trees to boost greenery in Kumasi
2 minutes -
EPA links plastic pollution and blocked waterways to worsening floods
7 minutes -
When Accra Flooded: How structural vulnerabilities and climate dynamics turned heavy rain into disaster
42 minutes -
Fire destroys Nobya TV/FM in Nalerigu
47 minutes -
Nine people reportedly missing after severe flooding hit Awutu Senya East
1 hour -
Monday’s rains among highest in several years — Mahama
1 hour -
Flood crisis: Mahama orders removal of structures in waterways
2 hours -
‘Let’s end Accra’s flood cycle’ — Mahama orders post-flood relief
2 hours -
Mahama proposes new city to decongest flood-prone Accra after Monday disaster
2 hours -
Woman, two children found dead in floodwaters at Dome
2 hours -
Accra flood death toll rises to nine as rescue teams intensify operations
2 hours -
Stop fiddling with anti-flood interventions — NPP slams government
3 hours -
GRA triggers emergency measures to save businesses as heavy rains paralyse Accra
4 hours -
Floods: Body of man believed to be in his 60s found along Alajo railway line
4 hours -
Gov’t outlines aggressive anti-flood measures as devastating rains submerge Accra and Tema
4 hours