Government Did Not Inherit Airteltigo Shareholder Loans In Takeover Agreement- Ursula Owusu

Ursula Owusu-Ekuful, Minister for Communications and Digitalisation, revealed that the state will not inherit AirtelTigo’s shareholder loans as part of the company’s takeover.

Government and AirtelTigo’s parent company, Bharti Airtel Ghana Holdings B.V. and MIC Africa B.V. complete talks and reached an agreement to move the company’s shares to Ghana.

The agreement transfers all customers, assets and agreed liabilities of AirtelTigo to the Government of Ghana.

“The shareholders of Airtel and Tigo are not passing on the shareholder loans that were advanced to the company,” Mrs. Owusu-Ekuful said.

She said, “that is one of the main items that was hurting the balance sheet of the company.”

“So 100 percent of all the loans have been forgiven, more or less. They are not seeking the repayment of those loans.”

AirtelTigo customer base is around 5.1 million subscribers and offers direct and indirect employment opportunities to an estimated 10,000 people

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