More Africa NewsGhana: AT signs joint venture agreement with British venture capital firm Hannam Investments

November 2, 2023by myles0

AirtelTigo was born from the merger of Airtel Ghana and Tigo Ghana in November 2017. The company was bought by the government in April 2021 and changed its brand name in June 2023.

The Ghanaian telecommunications company AT (formerly AirtelTigo) announced on Wednesday November 1 that it had signed a joint venture agreement with Hannam Investments, a British venture capital company. This partnership should allow the telecoms operator to improve its services and be more competitive on the national telecoms market.

Both companies are committed to promoting a “consumer-centric” approach. Hannam Investments is committed to investing in cutting-edge technologies and infrastructure modernization to create a leading 4G mobile telecommunications network, focused on delivering fast, reliable and secure data to the consumer.

This joint venture agreement comes about four months after AT took on this new brand name abandoning that of AirtelTigo. The company was born in November 2017 from the merger of the Ghanaian activities of Bharti Airtel and Millicom International Cellular (MIC) who wanted to remain competitive in the Ghanaian telecoms market then contested by six companies. The new telecoms operator was bought by the Ghanaian government in April 2021 for $1.

This partnership could allow AT to reposition itself in the Ghanaian telecoms market where it has been losing momentum for several years. According to National Communications Authority (NCA) statistics, the company saw its market share fall from 25.82% in October 2018 to 14.51% in January 2023. Currently, rivals Vodafone and MTN hold 18.17% respectively. % and 67.32% share of the mobile telephony market.

“  With the support of Hannam Investments, we are well positioned to provide cutting-edge telecommunications solutions, compete globally and contribute to the development of our workforce and our country,” said Leo Skarlatos  , general manager of AT.

Source: Agence ecofin

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