The government has designated KPMG, a global audit and advisory firm, as a transaction advisor to offer advice on the future of AT Ghana, the state-owned telecom operator currently beset by debt totaling over $150 million.
The action comes after a growing dispute between AT Ghana and its tower operator, ATC Ghana, over unpaid fees that led to the statewide power outage of AT’s radio access networks last week.
Due to the telco’s long-standing debt, ATC took steps that threatened to send more than three million users into a statewide communications blackout.
At a press conference last Friday, Samuel Nartey George, Minister of Communication, Digital Technology, and Innovations, stated that the government, acting through the National Communications Authority (NCA), had instructed AT and Telecel Ghana to immediately establish a national roaming agreement in order to protect customers and guarantee continuity.
“It is important to note at this point that all of AT’s services, and I’ll be clear here, voice, SMS, data, and AT money, remain intact,” he stated.
He described it as evidence of the technical know-how present in the Ghanaian telecom sector and commended the technical teams of both operators for their “exceptional skill and commitment” in carrying out the integration under extremely difficult circumstances.
Mr. George further revealed that KPMG was set a rigorous 60-day deadline to finish its advisory work, which will include the government’s stake in Telecel Ghana and the restructuring of AT.
He clarified that the main objective was to create a powerful backup operator in order to restore equilibrium to the nation’s mobile market, which had been dominated by MTN for a considerable amount of time.
Widespread media conjecture that the current events amounted to a merger or purchase was clarified by the communication minister.
“A merger is not what this is. Furthermore, it is not an acquisition.”
“We are dealing with a faux-merger situation and the work of the transaction advisor.”
For emphasis, I repeat, what is happening and playing out is not a merger, and neither is it an acquisition,” he clarified.
He stated that the government’s following review of the KPMG report’s recommendations would determine the ultimate course for AT Ghana.
In the interim, he asked all parties involved, subscribers, tower companies, suppliers, and creditors, to wait for the advisory work’s conclusion in order to gain clarification on unpaid bills, services, and the company’s future.
Regarding the future of AT’s employees, Mr. George emphasized that no positions will be eliminated.
“The government will ensure that the approximately 300 permanent staff of AT retain their employment. There will be no job losses.”
“I have already met with the staff and offered them assurances in this regard.”
He added that the transaction advisor had been requested to take into account the future of more than 200 contract employees.
The Minister went on to say, “I am fully aware of the gravity of the current situation for the workers, their families, and their dependents, but I remain committed on behalf of the government to protect them from any adverse situation.”
Source: newsthemegh.com