AirtelTigo takeover: Govt committed to settle outstanding debt of local creditors – Ursula Owusu

Communications and Digitalisation Minister, Ursula Owusu-Ekuful has assured that government is committed to settling all outstanding debts of local creditors of AirtelTigo Ghana.

This comes after the Government of Ghana last Friday, April 16 annouced that it has acquired all shares of the telecommunications company AirtelTigo.

Addressing journalists on the takeover, Ursula Owusu-Ekuful assured that all debts will be paid to creditors in the medium term.

“We assure all local creditors of the company that we are going to sit down with them and look at ways in which we can assist the company to meet its obligations towards them because all those companies also have to thrive and succeed and that includes anybody that the company may be indebted to as of this stage,” Ursula-Owusu said.

She continued, “The company is still working so this is not the time for any subscriber to move away from that company.”

The Minister further pointed that shareholders of Airtel and Tigo will not pass on the shareholders’ loans advanced to the company.

“The shareholders of Airtel and Tigo are not passing on the shareholder loans that were advanced to the company. That is one of the main items that was hurting the balance sheet of the company. So, 100 percent of all the loans have been forgiven, more or less. They are not seeking the repayment of those loans,” she explained.

At a signing ceremony in Accra, Communications and Digitilisations Minister Ursula Owusu-Ekuful signed on behalf of the Government of Ghana, while Jatina Catharina Uneken-van de Vreede, Martin P Frechette, Timothy Pennington, Eric Nana Nipah and Vish Ashiagbor signed on behalf of the seller entities.

A statement announcing the takeover agreement explained that government considers the decision as a step in the right direction as it seeks to add to the growing portfolio of digital infrastructure assets being utilised by the government.

"Government will operate the national asset in the best interest of the nation, the company, telecommunications industry, and ensure the protection of the interests of all employees, customers, contractors, suppliers, stakeholders and sustain the digital transformation of Ghana," portions of the statment read.