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Showing posts from August, 2024

Elephant in the room: Government’s Valueless Golden Shares in Telecel and AT Ghana - Part 1

This article is not about NPP or NDC government. It is about the Government of Ghana as a continuum and how the actions and inactions of policymakers and their implementing agencies have created the current status quo we have in the telecoms industry. The Government of Ghana used to own 100% of Ghana Telecom before 70% was sold to Vodafone for US$900 million in 2006. Since then, government has always held 30% golden shares in what became Vodafone Ghana, and now Telecel Ghana. Similarly, through the Ghana National Petroleum Authority (GNPC), government established Westel in partnership with US-based Western Wireless. Westel then became Zain, and later Airtel. Over the transition period, government, through GNPC held some 35% golden shares in the company. Then when Airtel merged with Tigo to form AirtelTigo, government’s shares was reportedly recalibrated to 10%. But now government owns 100% of AirtelTigo (now AT Ghana), which it purchased for US$1 , after both Airtel (Bharti) and Tigo (