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Airtel plans to exit Ghana

The transfer of shares was approved by Airtel’s board on Tuesday.

Adaugo Nwankpa
Adaugo Nwankpa

Airtel on Tuesday announced its board's approval for concluding an arrangement with the Government of Ghana which will see the Government of Ghana acquire 100 percent shares of Airtel Ghana Ltd (AirtelTigo) along with assets and agreed liabilities.

Airtel is voluntarily taking an impairment charge of Rs 184.1 crore (US$24.9m), reports say.

Murthy Chaganti, AirtelTigo CEO. Image Source: IT News Africa
“The parties are in advance stages of discussions for conclusion of the commercial agreement for the transfer of AirtelTigo on a going concern basis to the Government of Ghana,” Airtel said in a statement to the Bombay Stock Exchange on Wednesday.

The transfer of shares was approved by Airtel’s board on Tuesday, while also clearing its consolidated financial results for July-September.

Ghana In Focus:

Population: 30.4 million (Compared to South Africa's 59.6 million)

GDP: $66.984 billion (Compared to South Africa's $369.85 billion)

GDP Per Capita: $2,220 (Compared to South Africa's $6,040)

News

Adaugo Nwankpa

Statistical and Economics Analyst with a focus on social development.