Canadian multinational conglomerate Rektron Group Incorporated has reaffirmed its intention to acquire a controlling 60% equity stake in AT Ghana Limited for $150 million, unveiling what it calls a comprehensive and independently validated blueprint to rescue the debt-ridden telecom operator.

The company, led by Chief Executive Officer Atanas Kolarov, announced that the proposed investment would not only stabilise AT Ghana, which is currently weighed down by over $150 million in debt, but also position it for long-term growth and competitiveness in Ghana’s telecom industry.

Rektron described its proposal as a “meticulously structured, financially robust, and independently validated blueprint” designed to provide immediate stabilisation and sustainable renewal for AT Ghana.

The plan is anchored in a Memorandum of Understanding (MoU) signed with the Government of Ghana on May 21, 2025, which envisioned a well-capitalised strategic partner bringing both funding and technical expertise.

Unlike temporary regulatory interventions aimed at protecting subscribers, Rektron emphasised that its approach tackles the root causes of AT Ghana’s decline rather than short-term symptoms.

A key priority of Rektron’s plan is addressing AT Ghana’s debt crisis.

The group confirmed that it has engaged in constructive negotiations with creditors, securing a broad understanding for a lenient restructuring arrangement.

“These creditors have expressed eagerness to collaborate with Rektron and the government to stabilise and grow AT Ghana post-acquisition,” the company stated, describing this as a breakthrough in removing the primary barrier to the operator’s survival.

Rektron has structured a $150 million funding package through cash, credit lines, and guarantees, with immediate deployment planned to support infrastructure expansion, service quality improvements, and operational debt clearance.

According to the group, the certainty of this financial package eliminates the delays and uncertainties that often accompany complex merger processes.

Rektron pledged to retain all full-time and contract staff of AT Ghana while expanding opportunities as operations grow.

The group also plans to empower employees through training, skills development, and exposure to international best practices.

“We are profoundly aware that these tireless individuals, often operating under immense pressure and constraint, have been the silent architects upholding the company’s functionality,” Mr. Kolarov said.

The Canadian investor will collaborate with local partners, including Afritel Ghana Limited, led by telecom entrepreneur Nana Richmond Aggrey, and K-NET Ghana, founded by Richard K. Hlomador, to integrate local expertise into its revival strategy.

To strengthen AT Ghana’s competitiveness, Rektron intends to leverage partnerships with Tier-1 global technology vendors to modernise infrastructure, reduce data costs, and extend affordable digital access across Ghana—particularly in underserved rural communities.

“These improvements will enable affordable, high-quality connectivity for customers across all regions,” Rektron stated, framing its strategy as a catalyst for national socio-economic development.

Rektron disclosed that its blueprint was independently reviewed by KPMG, which confirmed its strategic soundness, operational viability, and transformative potential.

The company argued that this external validation underscores the credibility of its proposal, offering assurance to the Government of Ghana and industry stakeholders.

While other options have been floated, including possible mergers with industry rivals such as Telecel, Rektron warned that such alternatives may bring “formidable challenges” such as integration hurdles and structural inefficiencies.

By contrast, Rektron’s proposal is positioned as focused, pragmatic, and actionable—aimed at securing telecom sector stability and digital independence for Ghana.