Rektron Group to Acquire Majority Stake in AT Ghana, Marking Strategic Entry into Telecom Sector
The Acquisition signifies Rektron’s diversification into the telecommunications sector and highlights its dedication to propelling infrastructure development, broadening connectivity and catalysing digital advancement across Africa.
Rektron Group Incorporated , a global leader in energy and infrastructure, in a strategic alliance with Afritel Ghana Limited , has announced plans to acquire a sixty percent (60%) majority equity stake in AT Ghana Limited (formerly Airtel Tigo), one of Ghana’s premier telecommunications providers. Afritel, a respected telecommunications firm in Ghana, is founded by Nana Richmond Aggrey. Mr. Aggrey is a pioneering figure in Ghana’s telecommunication industry, co-founding Scancom Ghana Limited (Areeba), the first GSM (Global System for Mobile Communication) provider in Ghana, later acquired by MTN Ghana. The Acquisition signifies Rektron’s diversification into the telecommunications sector and highlights its dedication to propelling infrastructure development, broadening connectivity and catalysing digital advancement across Africa.
AT Ghana is a telecommunication company, wholly owned by the Government of Ghana, that provides a broad spectrum of dynamic telecommunication services including voice, data, mobile financial services, and business connectivity solutions. Guided by its core vision of “A better life for our customers”, AT Ghana strives to foster a more sustainable future by delivering next generation products and services that enable economic and social progress for its customers and stakeholders.
The Acquisition of a majority interest in AT Ghana will align seamlessly with Rektron’s overarching infrastructure strategy of building resilient, connection-driven ecosystems across critical sectors. With AT Ghana’s proven capability and its position as a leading mobile network operator in the country, serving over 2.3 million users, this investment will accentuate the Company’s ability to generate stable cash flows and deliver long-term value. Moreover, the rapidly expanding digital landscape in Ghana presents significant growth opportunities for advanced telecommunications services, financial inclusion, and digital connectivity solutions. By leveraging Rektron’s strategic vision and operational expertise, this partnership is poised to accelerate AT Ghana’s trajectory of sustainable growth, further strengthening its market leadership and contributing meaningfully to the socio-economic development of Ghana.
The Government of Ghana has expressed strong support for the Acquisition, recognizing its potential to bolster the country’s telecommunications infrastructure and digital economy.
“We are excited to take a significant stake in AT Ghana and appreciate the support of the Government of Ghana as we take a significant stake in AT Ghana. This aligns with our global vision to advance major infrastructure initiatives, foster innovation, and deliver value to consumers throughout the region.”
–Atanas Kolarov, Chief Executive Officer, Rektron.
“This partnership marks a major milestone in our mission to advance telecommunication services in Ghana. Through our strategic collaboration with Rektron bringing global best practices, strategic investment, and next-generation infrastructure—we will strengthen our mobile network, expand nationwide coverage, and modernize service delivery. These improvements will enable us to drive down the cost of mobile data while increasing speed, reliability, and access. By making affordable, high-quality connectivity available to customers across all regions—including remote areas—we will be empowering every Ghanaian to fully participate in the digital economy and benefit from the opportunities it brings.”
–Nana Richmond Aggrey, Founder and Chairman, Afritel Ghana.
The Company, Afritel and the Government of Ghana entered in a Memorandum of Understanding (MoU) on May 21, 2025, in respect of the Acquisition, which is expected to accelerate AT Ghana’s growth by leveraging Rektron’s financial strength and Afritel’s deep local expertise, ultimately benefiting millions of Ghanaian consumers and business.
Conclusion of the Acquisition remains subject to certain conditions, including the completion of satisfactory due diligence, the finalization of financial terms and conditions, execution of definitive documentation in respect of the Acquisition and the receipt of applicable regulatory approvals. While the parties are working collaboratively to a successful close, there can be no assurance that the Acquisition will be consummated. The Company will provide frequent updates with regards to the Acquisition.
