AT, formerly AirtelTigo Ghana, has announced that it has entered a Joint Venture with Hannam Investments, a UK-based Private Equity firm. The Ministry of Communication and Digitalisation facilitated the agreement.
The Joint Venture will achieve the following key objectives:
1. Enhanced Telecommunication Infrastructure: Hannam Investments through the Joint Venture will invest in state-of-the-art technology and infrastructure upgrades to create a leading 4G mobile telecom network focused on fast, reliable and secure data provision to the consumer.
2. Competitive Products and Services: Commitment to launching innovative, consumer-centric products and services and ensuring consumers access to the latest advancements in telecommunications technology.
3. Social Commitment: In addition to the provision of leading and advanced telecommunications and services to the consumer the Joint Venture will ensure a positive future and job security for employees of AT and stakeholders that amount to over 10,000 Ghanaians. The Joint Venture will lead to the creation of jobs and make a meaningful contribution to the economic growth of Ghana.
Honorable Ursula Owusu-Ekuful, Minister of Communication and Digitalisation has been instrumental in facilitating the transaction and is confident about its potential for the telecommunications sector. Speaking at the signing of the joint venture, in the presence of AT employees the Honorable minister stated,
The agreement aligns with the Ministry’s mission to facilitate the development of reliable and cost-effective world-class communications infrastructure and services.
Honorable Ursula Owusu-Ekuful, Minister of Communication and Digitalisation, Ghana
She also expressed her gratitude to the employees who have stayed with the company despite the challenges faced in the past.
This is a significant milestone for AT. With Hannam Investments’ support, we are well-positioned to provide cutting-edge telecommunication solutions, compete on a global scale, and contribute to the development of our workforce and nation.
Leo Skarlatos, CEO, AT
We are delighted to partner with AT Ghana through this joint venture. This collaboration will bring capital to Ghana thereby producing an investment that will enable technological advancements and the provision of data and services to the end-users which are currently lacking in major parts of the country. Additionally, it will enhance capacity and foster healthy competition to the benefit of the consumer.
The JV will make substantial investments to create a new player in the telecom sector. Our aim is to ensure that more people in Ghana have access to the internet and services which are an essential building block of a country and will act as a driver of economic growth and development.
We thank the Honorable Minister and Mr Skarlatos and his team at AT for all their hard work to make this transaction a reality. This is an incredibly exciting opportunity to transform the telecommunications market in Ghana by providing greater choice and services to the consumer in an underserved market. We look forward to working with AT to make the vision a reality.
Mr. IC Hannam and James Bell of Hannam Investments
This partnership signifies the dawn of a new era for AT and the entire telecommunication industry in Ghana. Both companies are committed to a ‘consumer centric’ approach and provision of data through reliable, fast and secure connectivity to facilitate the delivery of services and unparalleled user experience.
