Canadian multinational Rektron Group Incorporated has reaffirmed its commitment to acquire a controlling 60% equity stake in AT Ghana Limited for $150 million, unveiling what it calls a comprehensive, independently validated blueprint to rescue the financially distressed telecom operator.
Rektron Chief Executive Officer, Atanas Kolarov, announced the plan, positioning the group as the strategic investor Ghana has been seeking to stabilize AT Ghana, which is currently saddled with more than $150 million in debt and battling to remain competitive in the telecom market.
A Structured Plan for Revival
According to Mr. Kolarov, the $150 million proposal is not a speculative move but a “meticulously structured, financially robust, and independently validated blueprint” designed for the immediate stabilization and long-term renewal of one of Ghana’s most strategic national assets.
The proposal is anchored in a Memorandum of Understanding (MoU) signed with the Government of Ghana on May 21, 2025, which envisioned the entry of a well-resourced strategic partner to provide both capital and technical know-how. Rektron stressed that, unlike interim regulatory measures introduced to protect subscribers, its plan addresses the root causes of AT Ghana’s decline rather than short-term symptoms.
Tackling the Debt Burden
The most pressing challenge for AT Ghana has been its mounting debt. Rektron confirmed it has opened constructive negotiations with creditors, securing broad understanding for a lenient 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.
$150m Capital Injection
Rektron has structured a $150 million capital injection through a mix of cash, credit lines, and guarantees. The immediate deployment of funds will focus on infrastructure expansion, service quality improvement, and clearing operational debts, eliminating the uncertainties that often delay merger processes.
Protecting Jobs and Empowering Staff
The company has pledged to retain all full-time and contractual employees, while creating additional opportunities as operations expand. “We are profoundly aware that these tireless individuals, often operating under immense pressure, have been the silent architects upholding the company’s functionality,” Mr. Kolarov noted.
Rektron will also work with local partners—including Afritel Ghana Limited and K-NET Ghana—to ensure staff gain access to training, skills development, and exposure to global best practices.
Technology Partnerships and National Impact
The revival plan includes alliances with Tier-1 global technology vendors to overhaul AT Ghana’s infrastructure. Rektron says this will expand digital access, reduce data costs, and improve service quality nationwide, particularly in underserved rural areas.
“These improvements will enable affordable, high-quality connectivity for customers across all regions, positioning AT Ghana as a catalyst for national socio-economic development,” the group stated.
Independent Validation by KPMG
To boost confidence in its proposal, Rektron revealed that the blueprint has been independently assessed by KPMG, which affirmed its strategic solidity, operational viability, and transformative potential.
Avoiding Complex Alternatives
The company subtly dismissed competing scenarios—such as a potential tie-up between AT Ghana and other industry players like Telecel—warning that such options may involve “formidable challenges” including integration complexities and structural inefficiencies. Rektron instead pitched its proposal as focused, pragmatic, and actionable, offering Ghana a pathway to digital independence and telecom sector stability.
Local Partnerships for Scale
Rektron emphasized its partnerships with Ghanaian telecom veterans including Nana Richmond Aggrey of Afritel Ghana and Richard K. Hlomador, founder of K-NET. By combining global capital and expertise with local industry insight, the group aims to build a robust ecosystem that supports innovation and growth.
A Potential Game-Changer
If successful, the Rektron–AT Ghana deal could reinvigorate competition in Ghana’s telecom industry, currently dominated by MTN and Vodafone. Analysts believe fresh investment could drive down data costs, improve speeds, and extend coverage, ultimately benefiting millions of consumers. The acquisition is also expected to safeguard jobs, restore investor confidence, and strengthen digital infrastructure at a critical moment in Ghana’s economic recovery.
Next Steps
The deal remains subject to regulatory approval, due diligence, and final financial agreements. Rektron has requested clarity on the government’s position but reiterated its readiness to proceed.
“Rektron remains genuinely interested in implementing this proposal, should the Government see merit in further discussions,” Mr. Kolarov concluded. “We stand prepared to engage at your convenience.”
