Ghanaian News

Government assures local creditors of AirtelTigo arrangement to settle debt owed company

Minister for Communication and Digitalization, Ursula Owusu Ekuful has assured all local creditors of AirtelTigo that the government is committed to ensuring that all payment obligations are met.

It follows a decision by the government to take over the company after a successful agreement with the mother shareholders last week.

The Minister told Joy Business that some commercial loans that were weakening the balance sheet of the company have been forgiven.

She believes the move will revive other business partners of AirtelTigo.

“Indeed some commercial loans have been taken care of by the mother companies of Airtel and Tigo. For instance, the shareholder loans that were advanced to the company have been taken off its books and another facility from Standard Bank as well.”

“Some of these debts were having an effect on the balance sheet of the company. So we believe that this will help them now that it has been taken care of. I will use this opportunity to inform all local creditors of the company that the government will be making an arrangement with the company for all their obligations to be met including individual business partners” she said.

Government last week finalized the agreement to take over AirtelTigo after Millicom and Airtel, operators of the company sent a notice of their exit from the Ghanaian market.

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