Canadian conglomerate Rektron Group Incorporated has reaffirmed its bid to acquire a controlling 60% stake in AT Ghana for $150 million, pitching what it calls a “comprehensive and independently validated blueprint” to rescue the debt-strapped telecom operator.
Why it matters
AT Ghana, saddled with over $150 million in debt, has struggled to stay relevant in Ghana’s telecom market. Rektron is positioning itself as the strategic investor Ghana has been seeking to stabilize the operator and boost competition against MTN and Telecel.
Driving the news
- Rektron CEO Atanas Kolarov said the plan is “not speculative” but a structured, financially robust turnaround strategy, anchored in an MoU signed with the Government of Ghana in May 2025.
- The group pledged to retain all AT Ghana staff, inject capital into infrastructure upgrades, and expand partnerships with local firms like Afritel Ghana and K-NET.
- Rektron says KPMG independently validated the plan, underscoring its viability.
Debt challenge
- Rektron has begun negotiations with AT Ghana’s creditors and claims to have secured support for a lenient restructuring plan.
- Clearing debt is the first step, followed by investment in infrastructure and service upgrades.
The numbers
- $150 million: Rektron’s initial capital injection through cash, credit lines, and guarantees.
- Funds will support infrastructure expansion, service quality improvements, and operational debt clearance.
Jobs & people
- Rektron promises no layoffs of full-time or contract staff.
- Plans include skills training and exposure to global best practices, developed with local partners.
Big picture
- Rektron aims to leverage Tier-1 global tech vendors to modernize AT Ghana’s infrastructure, cut mobile data costs, and extend coverage to underserved rural areas.
- Analysts say the deal could inject competition into Ghana’s telecom sector, potentially driving down data prices and improving connectivity nationwide.
What’s next
- The deal requires government and regulatory approval, as well as final financial agreements.
- Rektron says it is ready to engage with the government “at any time” to finalize discussions.
Source: Citinews
