The Minority in Parliament of Ghana has issued a stern warning to investors, particularly foreign interests considering the potential takeover of AirtelTigo.
They are advising against pursuing any such acquisition without the necessary approval from Parliament.
The Minority argues that any takeover of AirtelTigo by foreign investors would be considered an international agreement and therefore subject to oversight by Parliament. Samuel Nartey George, the Deputy Ranking Member on the Communications Committee, emphasized that the Communications Minister, Ursula Owusu-Ekufful, must promptly present any potential deal to sell AirtelTigo to Parliament.
He cautioned foreign investors to exercise extreme caution when entering into any agreements, as any acquisition of AirtelTigo without the necessary parliamentary approval would render the agreement null and void in any court of law within the jurisdiction of the country.
Mr. George stressed that the minority side of the communications committee will provide comprehensive information to the media, emphasizing that the sale of AirtelTigo cannot proceed because Parliament has not been officially informed.
The minority is particularly concerned about the debt AirtelTigo owes a tower company in the country, which amounts to almost GH₵200 million. They are opposed to the potential transfer of this debt to the taxpayers if the company is sold without proper parliamentary approval.
The Deputy Ranking Member on the Communications committee insisted that AirtelTigo has significant financial issues, including substantial debts, which makes it even more imperative for Parliament to scrutinize any potential deal to sell it off.
The message from the Minority in Parliament is clear – any potential takeover of AirtelTigo by foreign investors must go through the necessary parliamentary approval process. Failure to do so would render the agreement null and void. The Minority vows to hold the Minister responsible and has stressed that the sale of AirtelTigo cannot proceed without Parliament’s formal approval.
