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The government has disclosed the financial troubles facing state-owned telecom operator AirtelTigo, which is saddled with a $200 million debt and is losing about GH₵20 million every month.
At a media briefing in Accra on Wednesday, April 9, 2025, the Minister for Communications, Digital Technology and Innovations, Samuel Nartey George, criticised the decision by the previous administration to acquire the company for just $1.
Mr George described the acquisition as “ill-informed, reckless and unpatriotic”, as he outlined the extent of the company’s challenges.
According to him, the Akufo-Addo administration purchased AirtelTigo in 2020 for a symbolic $1 but inherited a $400 million debt.
He said the previous government failed to carry out proper due diligence and left the company in what he called a “failing and obsolete” condition.
Although the debt has been restructured to $200 million, the company continues to post monthly losses of around GH₵20 million.
He stated that revenue generated by the telecommunications company is not enough to cover operational expenses. Mr George also revealed that AirtelTigo’s core billing and network systems have not been upgraded in five years and are no longer fit for purpose.
He said the ministry is in talks with creditors to reduce the debt and help keep the company afloat. A new policy direction, he added, would be announced soon to protect jobs and chart a path for the company’s future.
source: graphic.com.gh
