Ghana: Airtel, Tigo merge to form AirtelTigo

Millicom's Tigo and Bharti Airtel have merged in Ghana to become AirtelTigo
Everything on JUMIA
Millicom’s Tigo and Bharti Airtel have merged in Ghana to become AirtelTigo

Bharti Airtel has merged with Millicom’s Tigo in Ghana to become the country’s second largest mobile operator, the new company AirtelTigo said on Tuesday.

The merger, the first of its kind in Ghana, is a bid to increase share in the West African country where mobile phone use is one of the highest in Africa and competition for 37.4 million mobile phone users is fierce.

READ: Senate approves Buhari’s $5.5bn loan request

South Africa´s MTN dominates with 47.5 percent of subscribers. Others include Britain’s Vodafone, Globacom of Nigeria and Sudan’s Sudatel Expresso.

Deal of the day

The National Communications Authority regulator granted conditional approval for the merger in September, following an agreement in March by the two companies to combine their operations.

“Kindly note that on Thursday, September 14, we received a conditional approval from the National Communications Authority on the planned Tigo Ghana and Airtel Ghana merger,” according to a notice to Airtel and Tigo employees seen by Reuters.

AirtelTigo will serve around 10 million subscribers with revenues close to $300 million, it said in a statement.