Gov’t Plots Bold Rescue for AT as Telecom Giant Bleeds GHS20 Million Monthly – Sam George

The Minister for Communication, Digital Technology, and Innovation, Samuel Nartey George, has dropped a major hint about an upcoming government intervention to rescue state-owned telecom company AT from financial collapse.

Speaking to journalists on Wednesday, April 9, the minister confirmed that policy measures will be unveiled before the end of the quarter to address AT’s dire financial situation, secure thousands of jobs, and position the company for long-term survival.

“As sole shareholder, the ministry will soon announce clear policy directions to ensure job security for employees and the long-term survival of AT,” Sam George assured.

AT, formerly AirtelTigo, is currently drowning under a $200 million debt burden and is losing an estimated GHS20 million every month in operational costs.

According to the minister, the company’s financial state remains fragile despite previous restructuring efforts, and urgent negotiations are ongoing with creditors for potential debt “haircuts” to ease the pressure.

“This is not just about rescuing a business; it’s about protecting livelihoods and rebuilding a national asset,” Sam George stressed.

The minister didn’t hold back in his criticism of the Akufo-Addo administration’s 2021 acquisition of the telecom company for a symbolic $1. He described the deal as “reckless”, revealing that at the time of the takeover, AT was already saddled with a $400 million debt and incapable of meeting its overhead costs.

He also pointed out that the company’s systems were outdated and the previous owners—Bharti Airtel and Millicom—had made no significant investments in the five years leading up to the sale.

Sam George said the government is focused on transforming AT into a digitally robust, financially sound telecom firm that can compete in Ghana’s evolving tech ecosystem.

The upcoming policy package, he hinted, will address issues ranging from debt restructuring and system upgrades to talent retention and strategic partnerships.

“We’re not throwing in the towel on AT. We’re putting on gloves,” he declared.

The announcement comes as the government intensifies efforts to clean up and revive struggling state-owned enterprises amid growing public demand for accountability and value for money.

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