Communications Minister, Hon. Sam George, has raised serious concerns about the dire state of AirtelTigo, revealing that the state-owned telecom operator is bleeding cash and burdened with an unsustainable debt load of over $200 million. Speaking during his quarterly ministerial update on Wednesday, April 9, the Minister called out the previous administration’s handling of the acquisition, labeling it as “economic sabotage.”
“What the previous government did was nothing short of economic sabotage,” Sam George stated. “They acquired a sinking ship, and instead of fixing the leaks, they simply rebranded it AT and hoped for the best.”
The Minister explained that the previous government purchased AirtelTigo for a symbolic $1, but concealed the company’s massive debt portfolio. “When the company was bought, its debt portfolio stood at $400 million, and its revenues could not meet monthly overheads,” he revealed. “The core and billing platforms had reached the end of life, and Bharti Airtel and Millicom (Tigo) had failed to make any meaningful investments over the past five years.”
Since its acquisition by the government, the company continues to face severe financial challenges. “Today, after a debt restructuring arrangement, the debt portfolio sits at about $200 million, and the company is incurring a monthly operating loss of GH¢20 million,” Sam George explained.
Describing the previous administration’s actions as “ill-informed and reckless,” the Minister accused them of acting against the public interest. To prevent the company from collapsing, the Ministry is moving forward with urgent debt negotiations.
“The bleeding needs to be triaged,” Sam George stated. “Urgent steps are underway to engage the company’s creditors in negotiating haircuts to ensure the company’s viability.”
The Minister further assured the nation that the Ministry would soon announce a comprehensive policy direction regarding the company’s future. “I will be updating the nation in the course of this quarter on the policy directions the Ministry would be taking as a sole shareholder to ensure the security of the jobs of employees and the long-term survival of the business,” he said.
Sam George’s comments come amid broader efforts by the government to tighten its control over the telecom sector. These efforts include plans to enforce stricter quality-of-service standards, lower data costs, and modernize infrastructure across the industry.
But the Minister’s remarks on AirtelTigo serve as the sharpest warning yet of what he termed a “state-sanctioned misadventure into telecom management.”
“Ghanaians deserve better,” he concluded. “And this Ministry is committed to delivering just that.”
