Ghana: State considers AT-Telecel merger to counter MTN dominance
September 9th 2025
MTN dominates the Ghanaian telecoms market in terms of market share, with more than two-thirds of the country’s mobile subscribers according to official sources.
The Ghanaian government has not ruled out the possibility of a merger between state-owned operator AT and Telecel, in which it holds a minority stake. Such an option would aim to increase competition in a telecoms market dominated by MTN.
This was suggested by the Ministry of Communication, Digital Technologies and Innovation in a statement posted on Facebook on Friday, September 5. The statement stated that emergency measures were taken to protect AT customers after telecom tower operator ATC Ghana shut down AT sites due to unpaid debts. The three million affected customers were migrated to Telecel through national roaming.
“To ensure AT’s long-term future, the government has appointed KPMG as transactional advisor. KPMG has 60 days to assess AT’s debt situation, review the government’s stakes in Telecel Ghana, and propose strategies to create a second, strong operator to balance Ghana’s telecoms market,” the ministry added.
This initiative comes as the government seeks to make AT more competitive in the domestic market, where the operator has been losing ground for several years, partly due to financial difficulties. Last March, sources indicated that the company’s debt stood at 3.5 billion cedis (USD 290 million), including 1.5 billion to ATC Ghana.
However, AT was born in 2017 from the merger of operators Airtel and Tigo, in an attempt to increase its competitiveness, without notable success. Successively abandoned by its owners, the company came under the control of the Ghanaian state in 2021 for a symbolic one dollar.
According to statistics from the National Communications Authority (NCA), its market share fell from 25.82% in October 2018 to 7.89% in December 2024. At the same date, its competitors Telecel (formerly Vodafone) and MTN held 18.14% and 73.96% of the mobile phone market respectively.
However, the government clarified that no merger or acquisition decision has yet been made. These options will only be considered after the advisor’s report is submitted. It also urged subscribers, creditors, and other stakeholders to wait for KPMG’s recommendations.
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