Ghana government says it has two years to decide how it would acquire a 25 percent shares in the merged telco company, AirtelTigo.
According to Communication Minister, Ursula Owusu Ekuful, the deal was part of the conditions of the merger of the two telecoms, which took place two months ago. It also to encourage local participation in the telecom industry.
Mrs. Ekuful Explained that government is considering which instrument to use in accessing the shares it is entitled to.
“It is not that government wants a share. Government actually 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 told Starr Business.
The National Communication Authority (NCA) in October approved the merger between Airtel and Tigo, making the AitelTigo the second largest mobile network operator in Ghana.