Minister for Communications, Digital Technology, and Innovations, Samuel Nartey George, has fiercely criticized those responsible for the AirtelTigo acquisition, labeling them “enemies of the state” who lacked patriotism.
Speaking to journalists in Parliament, the Minister expressed shock over the massive financial liabilities the government inherited after acquiring the debt-ridden telecommunications company for just one dollar.
A Costly Deal Hidden Behind a Token Price
According to George, the true financial burden of the deal is now coming to light, with companies like American Tower Company (ATC) presenting staggering bills.
“For anybody to have told us that they bought AirtelTigo for $1, and now that we have taken over, ATC alone has presented us with a bill of 1.5 billion Ghana Cedis, is simply unacceptable,” he declared.
He further revealed that AirtelTigo’s total debt now exceeds 3.5 billion Ghana Cedis, adding that discussions with the American Embassy have reinforced concerns about the financial mess left behind.
Who Pays for This Debt?
The Minister slammed the lack of due diligence in the acquisition process and raised critical questions about who will be held accountable for the enormous debt.
“If someone told you they bought it for $1, who is going to pay the 1.3 billion Ghana Cedis that is sitting there and accumulating interest?” he asked.
A Call for Accountability
George’s remarks suggest that the current government will be investigating the circumstances surrounding the deal, as he calls for those responsible to be held accountable for their actions.
The AirtelTigo acquisition was initially touted as a strategic move to save jobs and maintain industry competition, but the mounting financial burdens have raised serious questions about the real cost of the deal.
