Canadian multinational conglomerate Rektron Group Incorporated has reaffirmed its commitment to acquiring a 60% controlling stake in AT Ghana Limited for $150 million. The company says the deal will provide a lifeline for the debt-ridden telecom operator while laying the foundation for long-term growth.
Rektron’s Chief Executive Officer, Atanas Kolarov, described the move as a “meticulously structured and independently validated blueprint” aimed at stabilizing and reviving one of Ghana’s most strategic telecom assets.
Tackling AT Ghana’s debt crisis
AT Ghana is currently saddled with over $150 million in debt. Rektron confirmed that it has opened constructive talks with creditors and secured broad support for a restructuring plan that would ease the company’s financial burden.
“These creditors have expressed eagerness to collaborate with Rektron and the government to stabilize and grow AT Ghana post-acquisition,” the company said.
$150m capital injection
Rektron plans to inject $150 million in capital through a mix of cash, credit lines, and guarantees. The funds will be used to clear debts, expand infrastructure, and improve service delivery.
The group emphasized that the immediate investment will provide financial certainty while avoiding the drawn-out uncertainties often associated with mergers.
Jobs and workforce assurance
Mr. Kolarov assured that all full-time and contract staff will be retained. Beyond that, Rektron intends to create new jobs while providing employees with training, skills development, and exposure to global best practices.
“We are profoundly aware that these tireless individuals, often working under immense pressure, are the silent architects keeping the company afloat,” he said.
Technology partnerships and service expansion
To modernize AT Ghana’s operations, Rektron intends to partner with Tier-1 global technology vendors. The plan includes:
- Expanding digital access nationwide
- Reducing mobile data costs
- Improving service quality, especially in rural areas
Rektron said these initiatives align with Ghana’s digital transformation agenda and will position AT Ghana as a key driver of socio-economic development.
Independent validation and local partnerships
Rektron disclosed that its proposal has been independently reviewed by KPMG, which confirmed the plan’s financial and operational viability.
The company also highlighted strategic partnerships with Afritel Ghana Limited, led by telecom entrepreneur Nana Richmond Aggrey, and K-NET Ghana, a leading satellite and network solutions provider.
By combining global capital with local expertise, Rektron says it will create a sustainable ecosystem for growth.
Avoiding risky alternatives
Taking a subtle swipe at other potential solutions, such as linkages with existing telecom operators like Telecel, Rektron warned that such options could bring “integration challenges, inefficiencies, and compatibility risks” that might slow Ghana’s digital transformation.
Instead, Rektron described its approach as focused, pragmatic, and actionable.
A potential game-changer for Ghana’s telecom sector
If successful, the Rektron–AT Ghana deal could reshape Ghana’s telecom industry, which is currently dominated by MTN and Vodafone. Analysts predict that the revival of AT Ghana could lead to lower data costs, faster internet speeds, and expanded rural coverage.
Beyond telecom, the acquisition could restore investor confidence, safeguard thousands of jobs, and strengthen Ghana’s digital infrastructure.
Next steps
The deal remains subject to regulatory approval, due diligence, and final negotiations. Rektron has asked the government for clarity on its position but stressed that it is ready for constructive engagement at any time.
“Rektron remains genuinely committed to this proposal, should the Government see merit in further discussions,” Mr. Kolarov concluded.
source: citinewsroom
