We bought AirtelTigo company for just 1 dollar - Ursula Owusu reveals

We bought AirtelTigo company for just 1 dollar - Ursula Owusu reveals

- Ursula Owusu-Ekuful has revealed that the government acquired AirtelTigo for just one dollar

- She said claims that the government acquired it for $20 million are untrue

- According to her, half of the $100 million debt accrued by the company will be cleared by government

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The Minister for Communications and Digitisation, Ursula Owusu-Ekuful, has revealed that government acquired telecommunications network, AirtelTigo, for just one dollar ($1).

According to her, claims that the government acquired it for $20 million are untrue and must be dismissed by the public.

In a report filed by StarrNews, she revealed that the company's debts accrued by AirtelTigo amounting to $100 million owed to Standard Bank will be structured by the government and paid off.

Ursula said 50% of the $100 million debt has been forgiven by the bank and the remaining 50% will be paid off by the government of Ghana.

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We acquired airteltigo for one dollar - Ursula Owusu reveals
We acquired airteltigo for one dollar - Ursula Owusu reveals
Source: UGC

YEN.com.gh earlier reported that AirtelTigo had signed an agreement with the government of Ghana for the transfer of ownership to the state.

This comes after the telecommunications giant announced in June 2020 its decision to exit the Ghanaian market.

The agreement was signed after the government of Ghana concluded negotiations with AirtelTigo’s parent companies, Bharti Airtel Ghana Holdings B.V. and MIC Africa B.V.

Per the negotiation, all the company’s assets, and agreed liabilities are transferred to the government of Ghana.

In other news, some parts of the Greater Accra region will experience an interruption in the supply of water to their homes and offices, the Ghana Water Company Limited (GWCL) has indicated.

This is to allow for repair works and replacement of some parts of a damaged transmission pipeline between Tema and Kpong.

The exercise is expected to take place from Thursday, April 22, 2021, to Monday, April 26, 2021.

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According to a report filed by Citi News, the GWCL deems it fit to address the problem since it is causing the company to lose volumes of water on a daily basis resulting in an impact of supply to consumers.

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Source: Yen

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