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The Minister of Communications, Digital Technology, and Innovations, Samuel Nartey George, has announced that the government has appointed KPMG as transaction advisor for the Telecel-AT deal. This appointment was made to guide the future of AT Ghana, with the goal of establishing a second strong operator to address the imbalance in Ghana’s mobile market.
The transaction advisor will provide guidance on the future of AT Ghana and assess the government’s shareholding in Telecel Ghana. KPMG has been given a strict 60-day timeline to complete its work due to the urgency of the situation.
The AT Ghana and Telecel Ghana deal aims to create a stronger, more sustainable telecom operator. The merger is driven by AT’s precarious financial state, with the company incurring over $10 million in losses within eight months this year. According to Minister George, continuing to fund these losses with taxpayers’ money is unsustainable.
The merger is expected to cut costs, eliminate duplication, and create a more competitive telecom player in Ghana. Over 3.2 million AT subscribers have already been migrated onto Telecel’s network through a national roaming arrangement, described as “98% smooth” by the Ministry.
The integration process will unfold in three phases. Technical migration is nearly complete, with roaming already operational. Human resource alignment will ensure all staff are absorbed before the end of September. Minister George assured 300 permanent employees of AT Ghana that their jobs are safe under the new entity. Commercial restructuring will be finalized shortly, establishing the framework for the merged entity.
Sustaining the new operator will require $600 million over the next four years. The government will inject resources, including proceeds from spectrum sales, and invite Telecel and other partners to co-invest. The government currently owns 100% of AT Ghana and 30% of Telecel Ghana.
