The Minister of Communications, Digital Technology, and Innovations, Samuel Nartey George, has announced that the government has appointed accounting and auditing firm KPMG, as transaction advisor for the Telecel-AT deal.
He made this announcement at a press conference in Accra on Friday, September 5.
“There is a transactional advisor who is coming to take stock. KPMG has been appointed the transactional advisor,” he said.
Sam George earlier announced that the AT Ghana (formerly AirtelTigo) and Telecel Ghana deal was to create a stronger, more sustainable telecom operator.
At a staff engagement held at AT Ghana’s Head Office in Accra, Minister Samuel Nartey George (MP) assured all 300 permanent employees of AT that their jobs are safe under the new entity.
“This is not a re-application process. It is a continuation of your contracts. Everyone of you will be absorbed, unless you personally choose to leave
The Minister emphasised that customers of AT will also have their interests fully protected during the transition.
According to the Ministry, the merger is being driven by AT’s precarious financial state, with the company incurring more than $10 million in losses within just eight months of this year. Mr. George noted that continuing to fund such losses with taxpayers’ money was unsustainable.
“These losses are funded by taxpayers. That is money that should be building roads, water systems, and schools. We cannot keep pouring public funds into unsustainable operations,” he said.
The Minister further explained that merging AT and Telecel will cut costs, eliminate duplication, and create a more competitive telecom player in Ghana.
Gov’t to merge AT Ghana with Telecel; Minister assures staff of job security
“It makes no sense for two networks to operate separately on the same tower, both paying twice while both struggle. A merger is the smart and sustainable choice,” he added.
Already, over 3.2 million AT subscribers have been migrated onto Telecel’s network through a national roaming arrangement, which the Ministry described as “98% smooth.”
The integration process will unfold in three phases according to the ministry:
- Technical migration – nearly complete, with roaming already operational.
- Human resource alignment – ensuring all staff are absorbed before the end of September.
- Commercial restructuring – to be finalised shortly, establishing the framework for the merged entity.
On financing, the sector minister revealed that sustaining the new operator would require $600 million over the next four years. He confirmed that the government will inject resources, including proceeds from spectrum sales, while also inviting Telecel and other partners to co-invest.
The government currently owns 100% of AT Ghana and 30% of Telecel Ghana. Both companies have struggled with debts to vendors and partners, despite Telecel’s acquisition of Vodafone Ghana.
