The Minority in Parliament has issued a warning to investors, particularly foreign interests, advising against pursuing any potential takeover of AirtelTigo without the necessary Parliamentary approval.
They argue that any such takeover by foreign investors would be considered an international agreement subject to Parliament’s oversight.
Speaking on the floor of Parliament on Friday, February 9, the Deputy Ranking Member on the Communications Committee, Samuel Nartey George said that the Communications Minister, Ursula Owusu-Ekufful must promptly present any such deal to sell AirtelTigo to Parliament.
He cautioned foreign investors to be very careful when entering into any agreements, emphasising that if they believe they are acquiring assets belonging to the Ghanaian people without the necessary parliamentary approval, the agreement will be deemed null and void in any court of law within the jurisdiction of the country.
“The Constitution of Ghana is clear, if you go and buy stolen goods, you can’t say that because you bought stolen goods from the brother of the owner of the goods, it validates it.
“If the laws of Ghana say that when you are buying a state asset and you are an international company, it must come to Parliament and you decide to go and buy from a minister without coming to Parliament, buyer beware because Parliament would hold the minister responsible and I’m confident that the next John Mahama government in 2025 will not respect any such agreements,” he said.
Mr. George stressed that the minority side of the communications committee will provide comprehensive information to the media, emphasising that the sale of AirtelTigo cannot proceed because Parliament has not been officially informed.
“If you are selling AirtelTigo to an international company, it must come to this house. We saw President Kufuor sell Vodafone, he came to this house. Ursula Owusu cannot become law unto herself and so we would expect and as a committee, we will demand same that she must respect the directive of Mr. Speaker, and come and brief the committee on issues involving the status of AirtelTigo and any potential deal,” he said.
The National Democratic Congress MP for the Ningo-Prampram constituency stated that the minority side of the communications committee is worried about the debt AirtelTigo owes a tower company in the country, which amounts to almost GH₵200 million.
“If you say you are not going to pay, what happens to that tower company? And if you bring in this new investor, is the tower company supposed to continue offering services to the new investor? What happens, who pays it? Are they going to move that debt to the taxpayer, you and I, because somebody has mismanaged a private entity and the government has gone to take on that.
“There are questions that have to be answered and so rest assured, there are all kinds of things we are hearing relative to that deal and it won’t happen,” he said.
The Deputy Ranking Member on the Communications committee insisted that AirtelTigo has some financial issues including substantial debts which makes it even imperative for Parliament to scrutinise any deal to sell it off.
“I know that AirtelTigo has debts on its books in excess of $100 million. So if you are selling AirtelTigo to somebody and the debt is in excess of $100 million, what is the value of the assets and then what is the value of that debt? Are you selling the company with the assets and liabilities, or are you just selling the assets alone, without the liabilities? Then who takes over the liabilities?
“Because those liabilities have to be settled. AirtelTigo owes banks, they owe service providers like the tower companies,” Mr George said.
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