AT Telecom Faces $200M Debt as Government Seeks Urgent Rescue Plan

Ghana’s state-owned telecom operator, AT, is grappling with a massive $200 million debt, according to Communications, Digital Technology, and Innovation Minister Samuel Nartey George.

At a press conference held in Accra on Wednesday, April 9, the Minister revealed that despite ongoing restructuring efforts, the company continues to post monthly operational losses of approximately GHS20 million—signaling a deepening financial crisis.

Minister George underscored the need for swift action, noting that the government is currently in talks with creditors to negotiate debt haircuts that could provide much-needed breathing space for AT.

He didn’t mince words in criticizing the previous administration’s handling of the company’s acquisition, calling it “ill-informed and reckless.” He added, “The former government acquired AirtelTigo and rebranded it as AT for a symbolic $1, yet the company was already drowning in debt.”

At the time of acquisition, AT reportedly had a debt burden of $400 million and lacked a solid revenue base to sustain its operations. Minister George also highlighted the deteriorated state of the company’s infrastructure, blaming prior operators for failing to invest in the network for at least five years before the handover.

“Our telecom infrastructure was outdated and underfunded,” he noted. “There were no major upgrades to AT’s core systems and platforms for years, which left the company struggling to stay competitive.”

The current administration, he said, is committed to reviving AT through comprehensive restructuring, improved financial oversight, and a push for long-term sustainability.

As the government works to stabilize the company, the future of AT hangs in the balance, with hopes that strategic financial reforms will pave the way for recovery and renewed growth.