Business

Government to acquire 25% shares in AirtelTigo – Ursula Owusu

The Communications Minister Ursula Owusu Ekuful has said that government of Ghana has two years to decide how it intends acquiring 25 percent shares in AirtelTigo.

In an interview with Accra-based Starr FM, she said this is in fulfilment of the conditions of the merger between the two telecom companies.

“It is not that government wants a share…government has an embedded option to purchase 25percent of the shares of the merged entity within two years and so the opportunity is there and the government can take up that opportunity.”

“We think that there should be local participation in this industry and it shouldn’t just be limited to the players. And they should also understand that if they are working in this market some of the profit must stay here to develop our country in the form of the local partners that they will get. So within the next two years, we will decide which vehicle to use to acquire up to the 25percent shares,” she added.
The sector said the government is considering which instrument to use in accessing the shares it is entitled to.

The National Communication Authority (NCA) in October approved the merger between Airtel and Tigo.
AirtelTigo is the new brand name after the merger.
Announcing the new name CEO of AirtelTigo Roshi Motman said “As you can see, we are now bigger, better and stronger with 22 percent market share. It means that we will play an important part in the industry and serve our customers with quality and better service.”

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