Ghana’s state-owned telecommunications company, AirtelTigo, is now confronting a severe financial predicament as it hemorrhages GH₵20 million every month amidst a debt portfolio that exceeds $200 million.
The Minister for Communications, Digital Technology and Innovations, Samuel Nartey George, delivered a pointed critique during a press briefing in Accra, describing the 2020 acquisition of AirtelTigo for a symbolic $1 as a decision that was reckless, ill-informed, and unpatriotic.
The minister recalled that the transaction saddled the government with liabilities amounting to $400 million, a figure that has since been partially reduced through restructuring to the current debt level.
In his address, George emphasized that the telecom provider suffers from obsolete infrastructure, unsustainable operating costs, and a core billing and network system that has not been upgraded in five years. The company’s inadequate revenue streams have rendered it incapable of covering its operational expenses, placing a continued financial drain on public coffers. With these issues mounting, the Ministry has initiated talks with key creditors aimed at further reducing the debt burden and stabilizing operations.
The crisis has spurred plans for an urgent overhaul that may include public-private partnerships, modernization of infrastructure, and a renewed digital strategy to re-engage customers and restore market confidence. This proposed strategic policy framework is intended not only to secure the company’s future but also to preserve the livelihoods of its employees while protecting public resources.
The detailed assessment reflects a broader challenge facing state enterprises, where past decisions have left a legacy of financial strain and operational inefficiencies. Recognizing the complexity of reversing years of underinvestment, officials are now calling for decisive reform to avert a long-term downward spiral.
