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Canadian infrastructure and energy giant Rektron Group has announced plans to acquire a 60% majority stake in Ghana’s state-owned telecom operator AT Ghana, signalling a bold expansion into Africa’s digital economy.
The strategic move is being undertaken in partnership with Ghanaian firm Afritel Ghana Limited, led by industry pioneer Nana Richmond Aggrey. The agreement, announced on June 4, marks Rektron’s first foray into the telecommunications sector and underscores its ambition to drive connectivity and infrastructure development across the African continent.
“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,” said Atanas Kolarov, Chief Executive Officer of Rektron in an official statement. “This aligns with our global vision to advance major infrastructure initiatives, foster innovation, and deliver value to consumers throughout the region.”
AT Ghana, formerly known as Airtel Tigo, is wholly owned by the Government of Ghana and serves over 2.3 million customers nationwide. Its offerings include mobile voice and data services, business connectivity, and mobile financial solutions. Rektron’s planned acquisition aims to inject global capital and operational expertise into the company, further positioning it as a key player in West Africa’s fast-growing digital economy.
The three parties – Rektron, Afritel, and the Government of Ghana – signed a Memorandum of Understanding (MoU) on May 21 to formalise the intended deal. While the acquisition is subject to regulatory approvals, due diligence, and the signing of definitive agreements, officials from all sides have expressed optimism about a successful close.
Afritel’s founder, Nana Richmond Aggrey, hailed the partnership as a transformative step for Ghana’s telecom sector.
“This partnership marks a major milestone in our mission to advance telecommunication services in Ghana,” he said. “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 modernise service delivery.”
He added: “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.”
Rektron’s entry into Ghana’s telecoms landscape is expected to enhance its infrastructure portfolio, particularly as the company seeks to build what it describes as “connection-driven ecosystems” across emerging markets. With Africa experiencing rapid growth in mobile penetration and digital services, the deal positions Rektron to tap into rising demand for affordable and reliable connectivity.
AT Ghana’s existing operations provide a strategic platform for expansion. The company has long promoted a vision of “a better life for our customers” and seeks to offer solutions that support social and economic advancement. Rektron’s investment, if completed, would provide a financial and technological boost to these efforts.
The Ghanaian government has voiced strong support for the proposed deal, viewing it as an opportunity to modernise the country’s telecom infrastructure and promote digital inclusion.
The proposed acquisition also revives the legacy of Mr Aggrey, who co-founded Scancom Ghana Limited (Areeba), Ghana’s first GSM provider, later acquired by MTN Ghana.
If finalised, the Rektron-Afritel transaction could serve as a model for public-private partnerships aimed at improving digital infrastructure across the continent. However, Rektron cautioned that the completion of the acquisition remains contingent on several conditions, including regulatory clearance and satisfactory due diligence.
“The Company will provide frequent updates with regards to the Acquisition,” Rektron said.
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