Canadian multinational Rektron Group Incorporated has reaffirmed its commitment to acquiring a 60% controlling stake in AT Ghana Limited for $150 million. The group has unveiled what it describes as a detailed, independently validated turnaround plan to revive the financially troubled telecom operator.
Rektron’s CEO, Atanas Kolarov, stated that the company is prepared to become the strategic investor Ghana needs to rescue AT Ghana, which is currently burdened by over $150 million in debt and struggling to stay competitive.
“This is not a speculative venture, but a carefully designed, financially sound plan for the immediate stabilization and long-term renewal of one of Ghana’s key national assets,” said Mr. Kolarov.
The proposal is backed by a Memorandum of Understanding (MoU) signed with the Government of Ghana on May 21, 2025, calling for a well-resourced partner with both financial capacity and technical expertise.
Addressing AT Ghana’s Debt
Rektron revealed that it has initiated discussions with AT Ghana’s creditors and reached general agreement on a lenient debt restructuring plan. Creditors are reportedly willing to work with both Rektron and the government to stabilize the company following the acquisition.
The initial $150 million will be deployed through a combination of cash, credit lines, and guarantees. Immediate funds will be directed toward debt settlement, infrastructure upgrades, and improving service quality.
Safeguarding Jobs and Developing Talent
Job retention is central to Rektron’s strategy. Mr. Kolarov assured that all existing full-time and contract employees will be maintained, with additional roles to be created as operations scale up. Rektron plans to collaborate with Afritel Ghana Limited and K-NET Ghana to train staff and introduce global best practices.
Modernizing Infrastructure Through Global Tech Partnerships
The group also intends to partner with top-tier global technology vendors to modernize AT Ghana’s infrastructure. This will enhance digital access nationwide, lower data costs, and support Ghana’s digital transformation goals.
“These investments will ensure affordable, high-quality connectivity for all regions, especially underserved rural areas,” the company stated.
Independent Review and Market Impact
The blueprint has been independently evaluated by KPMG, which confirmed its financial strength and operational feasibility. Rektron said the third-party validation reinforces the proposal’s credibility for both government and industry stakeholders.
If successful, the acquisition could revitalize AT Ghana and introduce stronger competition into a market largely dominated by MTN and Vodafone. Analysts suggest this could lead to lower data prices, faster internet speeds, and broader rural network coverage.
The deal remains subject to regulatory clearance, due diligence, and final financial agreements.
“We remain committed to executing this plan, should the Government wish to proceed with further discussions,” Mr. Kolarov concluded. “We are ready to engage at your convenience.”
