The Minority in Parliament has called on the government to immediately suspend the ongoing restructuring between AT Ghana and Telecel Ghana, warning that the deal threatens Ghana’s strategic interests and risks handing a vital national asset to foreign control without parliamentary oversight.
At a press conference in Accra on Wednesday, October 15, Ranking Member on the Communications Committee, Matthew Nyindam, said the transaction “goes beyond business” and touches on national security and economic sovereignty.
“This is not merely about the sale of a company,” Hon. Nyindam declared. “It is about protecting national institutions that have served Ghana diligently, nurtured some of the finest talents in the industry, and proved their strategic importance in moments of national crisis.”
He insisted that AT Ghana must remain in Ghanaian hands, stressing that its legacy and contribution to national development “must not be compromised”.
The Minority has therefore demanded an immediate suspension of the consolidation process and a parliamentary probe into the circumstances surrounding the deal.
It also wants the government to release all documents and correspondence from AFROTEX/Rektron, the transaction advisor engaged to determine AT Ghana’s “highest and best use”.
Hon. Nyindam accused the Minister of Communications and Digitalisation, Samuel Nartey George, of mishandling the transaction with “secrecy, inconsistencies, and conflict of interest.”
“The minister’s management of this transaction lacks transparency and proper direction. It is riddled with inconsistencies and self-interest and risks handing over a critical national asset to a private foreign company without accountability,” he said.
According to the Minority, Rektron/Afritel had proposed a US$150 million capital injection with a long-term investment plan of up to US$1 billion over five years to modernise AT’s network, enhance 4G and 5G capacity, and promote technology transfer and job creation.
“Rektron’s proposal went beyond the initial US$150 million, outlining a billion-dollar expansion plan for AT,” the group noted, questioning why the Minister “rejected that for a US$50 million Telecel deal that defies logic.”
Hon. Nyindam alleged that the Minister’s failure to honour a US$5 million payment to the American Tower Company (ATC), a key AT service provider, led to the shutdown of several tower sites and forced AT customers to roam on Telecel’s network, resulting in an estimated GH¢7 million revenue loss in September alone.
He further accused the Minister of backtracking on earlier commitments to AT management and staff. “After announcing a deal with Rektron/Afritel and appointing KPMG as transaction advisors, the Minister suddenly shifted to a merger plan with Telecel without consultation or justification,” he said.
The Minority also questioned the government’s removal of merger-related posts from the Ministry’s social media platforms and Telecel’s LinkedIn page following public backlash. “Why announce a merger publicly only to pull it down later? The secrecy and confusion surrounding this deal raise legitimate concerns about what the Minister is hiding,” they charged.
They also cast doubt on Telecel’s financial credibility, noting that the company is already indebted to the tune of US$400 million and failed to honour its earlier US$500 million investment pledge when acquiring Vodafone Ghana.
“Telecel’s track record does not inspire confidence. This proposed merger is technically, operationally, and financially unconscionable,” Hon. Nyindam said, warning that it would threaten over 300 employees, 200 contract staff, and 10,000 indirect jobs.
He furthered: “AT Ghana represents a national institution with deep roots in our technological history. Any changes to its ownership must be handled with the highest level of transparency and full parliamentary scrutiny.”
