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Sam George criticizes AirtelTigo’s $1 acquisition, exposes the company’s GH₵3.5 billion debt

by Newsroom
25 March 2025
in News
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The Minister for Communications, Digital Technology, and Innovations, Samuel Nartey George, has strongly condemned the handling of the AirtelTigo transaction, branding those responsible as “enemies of the state” for their role in what he describes as a financially reckless deal.

His comments come in the wake of shocking revelations that the telecommunications company, which carried a staggering GH₵3.5 billion debt, was transferred to the government for a mere one dollar. Speaking to journalists in Parliament on Monday, March 24, 2025, the Minister expressed deep concerns over the financial obligations inherited by the state, particularly the GH₵1.5 billion debt owed to the American Tower Company (ATC).

“Those who managed the AirtelTigo process are enemies of our state and individuals who have no sense of patriotism. So for anybody to have told us that they bought AirtelTigo for 1 dollar, and now that we have taken over the ministry, ATC has presented us with a bill of 1.5 billion Ghana Cedis,” Sam George stated.

He further disclosed that discussions with the American Embassy had revealed even greater financial distress linked to the transaction.

“The debt sitting on the books of AirtelTigo exceeds 3.5 billion Ghana Cedis. So if someone told you that they bought it for 1 dollar, who is going to pay the 1.3 billion that is sitting there and accumulating interest?” he questioned.

The controversial AirtelTigo takeover was finalized in November 2021, when Bharti Airtel and Millicom International Cellular SA (Tigo) handed over 100% ownership to the Government of Ghana. The deal was justified by the then Minister of Communications and Digitalisation, Ursula Owusu-Ekuful, who defended the acquisition, stating, “We acquired it for just a dollar.”

However, Samuel Nartey George has vowed to provide Parliament with a comprehensive briefing on the financial burden and alleged mismanagement surrounding the transaction. His remarks have reignited debate over the deal’s transparency and the government’s long-term strategy for reviving the struggling telecom sector.

Tags: AirtelTigoNDCSam George
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