'AirtelTigo on life support' - Sam George reveals mounting losses, $200m debt

Communication Minister Sam George has expressed serious concerns about AirtelTigo. He stated that the state-owned telecom operator is losing money and has over $200 million in debt.

During his quarterly update on April 9, he said, “What the previous government did was economic sabotage.” He criticized them for acquiring a failing company without fixing its issues. Instead of addressing problems, they simply rebranded it as AT.

Sam George explained that the previous government bought AirtelTigo for just $1. However, they hid the company's significant debt. When purchased, AirtelTigo had a debt of $400 million and could not cover monthly expenses.

He noted that both Bharti Airtel and Millicom (Tigo) failed to invest meaningfully in five years. Now fully owned by the government, AirtelTigo continues to face financial losses.

“Today, after restructuring, the debt is about $200 million,” he said. The company incurs a monthly loss of GH¢20 million. He described the takeover as “ill-informed and reckless,” claiming it harmed public interest.

To prevent total collapse, the Ministry will start urgent debt negotiations. “The bleeding needs to be triaged,” George stated. They plan to negotiate with creditors for haircuts to ensure viability.

He mentioned that a comprehensive policy direction for AirtelTigo will be announced soon. “I will update the nation this quarter on our plans,” he added.

This news comes as the government aims to strengthen its control over telecom services. They plan to enforce stricter quality standards and reduce data costs while modernizing infrastructure.

George's comments highlight what he calls “a state-sanctioned misadventure into telecom management.” He concluded by saying, “Ghanaians deserve better,” emphasizing the Ministry's commitment to improvement.