NEWS

Sam George Criticizes AirtelTigo’s $1 Acquisition, Reveals GH₵3.5 Billion Debt Burden

The Minister for Communications, Digital Technology, and Innovations, Samuel Nartey George, has strongly criticized the handling of the AirtelTigo acquisition, branding those responsible as “enemies of the state.”

His condemnation follows the shocking revelation that the government of Ghana acquired the telecommunications company, despite it being burdened with a staggering GH₵3.5 billion debt, for just one dollar.

Speaking to journalists in Parliament on Monday, March 24, 2025, Sam George expressed deep concerns over AirtelTigo’s financial struggles, specifically highlighting a GH₵1.5 billion debt owed to the American Tower Company (ATC).

“Those who managed the AirtelTigo transaction have acted against the interest of the state. It is outrageous that while we were told the company was acquired for $1, the reality is that the new administration has inherited a debt of GH₵1.5 billion owed to ATC alone,” he stated.

He further revealed that discussions with the American Embassy have raised red flags regarding AirtelTigo’s financial health, questioning how the country intends to settle the outstanding GH₵3.5 billion debt.

The Ghanaian government finalized the takeover of AirtelTigo in November 2021 after telecom giants Bharti Airtel and Millicom International Cellular SA (Tigo) transferred their entire ownership to the state.

At the time, the then Minister of Communications and Digitalisation, Ursula Owusu-Ekuful, defended the transaction, emphasizing that the government had acquired the telecom company for just one dollar. However, Sam George has vowed to provide a detailed briefing to Parliament, exposing the extent of AirtelTigo’s financial burden and the alleged mismanagement surrounding the acquisition.

The revelations have sparked concerns about accountability and transparency in government transactions, particularly regarding major acquisitions involving public funds. Critics argue that Ghanaians deserve clear explanations on why the state took on such a massive debt without due diligence or adequate disclosure.

As the debate unfolds, there is growing pressure on the government to ensure greater financial responsibility and prevent similar deals from negatively impacting the nation’s economy.

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