Canadian multinational Rektron Group Inc. is set to acquire more than half the stake in Ghanaian government-owned telecommunications network (Airtel Tigo) AT Ghana Limited.

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The acquisition and stakeholdership are set to be in collaboration with a local telecom player,

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Afritel Ghana Ltd, founded by Nana Richmond Aggrey, a key figure in Ghana’s telecom industry.

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According to Rektron, the move has gained the support of the government as the transaction has already been formalised through an MoU signed on May 21, 2025.

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Rektron Group announced the move in a statement dated June 4, describing the acquisition as part of its plans to expand into the telecommunications sector to help build better infrastructure, improve internet access, and support digital growth across Africa.

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Its partnership with Nana Richmond Aggrey, co-founder of Scancom Ghana (now MTN), is expected to blend global capital with local expertise.

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“We are excited to take a significant stake in AT Ghana and appreciate the support of the Government of Ghana as we take a significant stake in AT Ghana. This aligns with our global vision to advance major infrastructure initiatives, foster innovation, and deliver value to consumers throughout the region,” said Atanas Kolarov, CEO of Rektron.

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Mr Kolarov assured Ghanaians of improved network services, expansion of nationwide coverage and improved data services.

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“This partnership marks a major milestone in our mission to advance telecommunication services in Ghana. Through our strategic collaboration with Rektron, bringing global best practices, strategic investment, and next-generation infrastructure, we will strengthen our mobile network, expand nationwide coverage, and modernise service delivery,” he added.

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AT Ghana, formerly AirtelTigo, currently serves over 2.3 million customers and has operated under full government control since its nationalisation in 2021.

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The telecom company, which was acquired by the Ghanaian government for just one dollar, was saddled with a staggering GH₵3.5 billion debt, with American Tower Corporation (ATC) demanding GH₵1.5 billion in outstanding payments.

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AT, according to Minister for Communications, Digital Technology and Innovation, Samuel Nartey George, is saddled with a $200 million debt and is losing about GH₵20 million every month.

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However, Rektron is confident that it will turn the corner by not only generating stable profits but also driving digital innovation and contributing to socio-economic development across the country.

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“ will accentuate the Company’s ability to generate stable cash flows and deliver long-term value.

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Moreover, the rapidly expanding digital landscape in Ghana presents significant growth opportunities for advanced telecommunications services, financial inclusion, and digital connectivity solutions.

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By leveraging Rektron’s strategic vision and operational expertise, this partnership is poised to accelerate AT Ghana’s trajectory of sustainable growth, further strengthening its market leadership and contributing meaningfully to the socio-economic development of Ghana.” Rektron added.

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Rektron’s acquisition of AT’s announcement comes barely a week after Sam George made public the government’s engagement of a strategic partner in efforts to revamp the struggling telecommunications network, AirtelTigo.

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He noted that discussions over the matter will be undertaken in 60 days to ensure improved services are provided by the end of September.

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“For the first time, I'll put out that the government is currently in negotiations with a strategic partner to revamp and take over AT. We've started those conversations. We're giving a 60-day window for the completion of those negotiations so that by the end of Q3, we could see a full rollout of the improved services on AT,” the minister said.

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Sam George made this revelation during a high-level meeting with MTN, Telecel, and AirtelTigo executives on Friday, May 30, where they addressed persistent issues concerning the poor quality of services offered by these telcos to consumers nationwide.

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