Minister for Communications, Digital Technology, and Innovations, Samuel Nartey George, has revealed that Airtel-Tigo (AT Ghana), a telecommunications entity bought by the state a few years ago, is burdened with a debt of GHC3.5 billion.
Addressing the media in parliament on Monday, George questioned the prudence and due diligence informing the decision by the state to take over the company.
The minister denounced the AT Ghana, transaction between the state and the former owners., describing those in charge of the transaction as enemies of the state.
“Those who managed the AT Ghana process are enemies of our state and individuals who have no sense of patriotism,” he stated.
He expressed utter disbelief at the sale price, in the face of the stark reality of AirtelTigo’s financial liabilities.
“So, for anybody to have told us that they bought AT Ghana for 1 dollar, and now that we have taken over the ministry, ATC (American Tower Company), just one of the companies AirtelTigo owes, presents us with a bill of 1.5 billion Ghana Cedis raises questions about the prudential considerations in the acquisition, ” he declared.
According to him, further deliberations with the American Embassy had brought to light concerns over AT Ghana’s fiscal obligations. “The American Embassy, along with their team, was in my office, and one of the major issues raised was the indebtedness to ATC. “
“The debt sitting on the books of AT Ghana exceeds 3.5 billion Ghana Cedis,” he divulged, wondering who would assume responsibility for the debt.
“So if someone told you that they bought it for 1 dollar, who is going to pay the 1.3 billion that is sitting there and accumulating interest?” he posed.