Canadian conglomerate Rektron Group Incorporated is taking a bold step to save AT Ghana Limited, announcing a $150 million plan to acquire a controlling 60% stake in the telecom operator. The move comes as AT Ghana struggles with more than $150 million in debt and stiff competition from bigger players like MTN and Vodafone.
This is not Rektron’s first signal of interest. Back in June, the company revealed plans to partner with Afritel Ghana Limited, founded by telecom veteran Nana Richmond Aggrey, co-founder of Ghana’s first GSM provider, Scancom (Areeba). At the time, Rektron and Afritel signed a Memorandum of Understanding with the Government of Ghana to outline the terms of a potential acquisition.
AT Ghana, formerly Airtel Tigo and fully owned by the government, serves over 2.3 million users with voice, data, mobile financial services, and business solutions. Its mission has always been to deliver services that empower businesses and communities across the country.
In reaffirming its commitment to AT Ghana, Rektron CEO Atanas Kolarov said the plan is “not a speculative initiative, but a meticulously structured, financially robust, and independently validated blueprint for the immediate stabilization and long-term renewal of one of Ghana’s most strategic national assets.”
The $150 million represents the initial step, with additional funds expected to support infrastructure upgrades, improve service quality, and manage the company’s debt.
Rektron has also begun talks with AT Ghana’s creditors, securing support for a flexible debt restructuring plan. “These creditors have expressed eagerness to collaborate with Rektron and the government to stabilize and grow AT Ghana post-acquisition,” the company said. “This effectively addresses the primary barrier to the company’s survival and opens the path towards a sustainable and prosperous future.”
The company plans to retain all current employees while creating new jobs, working closely with Afritel and K-NET Ghana to train staff and bring in global best practices. “We are profoundly aware that these tireless individuals, often operating under immense pressure and constraint, have been the silent architects upholding the company’s functionality,” Kolarov said.
Rektron aims to upgrade AT Ghana’s network with world-class technology, expanding coverage, lowering data costs, and improving service quality, especially in rural areas. KPMG has independently verified the plan, confirming its feasibility and long-term potential.
The Canadian company also warned that other rescue options, such as merging with Telecel, could create “formidable challenges, deeper integration complexities, incompatibility pitfalls, and structural inefficiencies, that could impede Ghana’s pursuit of a swift and sustainable digital transformation.”
If successful, the acquisition could inject fresh competition into Ghana’s telecom market, lower prices, improve connectivity for millions, and give the country a stronger digital backbone to support economic growth and innovation.
