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    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Business»Airtel to Exit Ghana Mobile Market, Sell Stake to Government
    Airtel

    Airtel to Exit Ghana Mobile Market, Sell Stake to Government

    1
    By AdeO on November 2, 2020 Business, Telecoms

    Airtel has disclosed that it will be exiting Ghana and selling its 49.95% stake in its joint venture telco in the country to the government. It made this announcement in a recent stock market filing.

    “Airtel is voluntarily taking an impairment charge of [₹184.1 crore],” the company said.

    The telco has been doing business in Ghana under the brand name AirtelTigo, in partnership with Luxembourg-headquartered Millicom.

    The telco’s board approved the transaction, “along with all customers, assets, and agreed liabilities,” Airtel said in its filing.

    As of March 2020, AirtelTigo had a 15.81% market share of voice subscribers, and a 20.25% share in data subscribers, according to data published by the country’s National Communications Authority.

    Over half the market share is with MTN Ghana, a subsidiary of the South African telco MTN.

    AirtelTigo’s website still sports the Airtel branding, and it’s not clear if that will remain.

    There is precedent for this — after Airtel scaled down its ownership of its business in Bangladesh, the brand continued under Robi, another telco, even as Airtel was just a minority shareholder.

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    1. Pingback: Ghanaian Government Buys AirtelTigo for $1 | Innovation Village | Technology, Product Reviews, Business

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