Home Business AT signs joint venture agreement with Hannam Investments

AT signs joint venture agreement with Hannam Investments

Airtel And Tigo

Telecommunication network AT, formerly AirtelTigo, has signed a Joint Venture Agreement with Hannam Investments, a UK-based private equity firm, to transform Ghana’s telecom market.

The Agreement was facilitated by the Ministry of Communications and Digitalisation, which would bring in state-of-the-art technology and infrastructure upgrade to ensure fast and reliable services to consumers.

In November 2017, Airtel and Tigo merged to form AirtelTigo to offer a wide range of telecommunication services, including data, mobile money, and mobile voice services.
Following the merger, it rebranded by adopting AT as its new name, which was launched on Thursday, June 22, 2023.

The rebranding applied to the network’s sub-brands, including AT Money, AT Business, AT Premier, and AT Insurance.

To enhance its future communications, marketing materials and branding initiatives, the joint partnership with Hannam Investments has, therefore, become a necessity.
This signifies a new era for AT and the entire telecommunication industry in Ghana.

The two companies have expressed their commitments to promoting ‘consumer centric’ approach and provision of data through reliable, fast and secure connectivity to facilitate quality service delivery and unparalleled user experience.

Mrs Ursula Owusu-Ekuful, the Minister of Communications and Digitalisation, played an instrumental role in facilitating the partnership between the two companies.
She told the AT staff that the agreement aligned with the Ministry’s mission to promoting the development of reliable, cost-effective world-class communications infrastructure and services.

Thus, she lauded them for staying with the Company despite its challenges.
The Chief Executive Officer of AT, Mr Leo Skarlatos, expressed excitement at the partnership, saying: “This is a significant milestone for AT.”

“With Hannam Investments’ support, we are well-positioned to provide cutting-edge telecommunication solutions, compete on a global scale, and contribute to the development of our workforce and nation.”

Mr I.C. Hannam and James Bell of Hannam Investments did not hide their enthusiasm to see to the fruition of their partnership with AT Ghana.

They were optimistic that the collaboration would bring capital to Ghana’s telecom market and produce an investment to innure to technological advancements.
This will enable the provision of data and services to the end-users, which are currently lacking in most parts of the country.

Additionally, it will enhance capacity and foster healthy competition in the telecom industry to the benefit of consumers.
“The Joint Venture will make substantial investments to create a new player in the telecom sector,” Mr Hannam said.

“Our aim is to ensure that more people in Ghana have access to the internet and services, which are essential building blocks of a country and will act as a driver of economic growth and development.”

“We thank the Sector Minister and Mr Skarlatos and his team at AT for all of their hard work to make this transaction a reality.”

Mr Bell, on his part, said it was an incredibly exciting opportunity to transform the telecommunications market in Ghana by providing greater choice and services to the consumer in an underserved market.

“We look forward to working with AT to make the vision a reality,” he said.
The Hannam Investments, through the Agreement, would invest in state-of-the-art technology and infrastructure upgrades to create a leading 4G mobile telecom network focused on fast, reliable and secure data provision to the consumer.

It would ensure competitive products and services to consumers via launching innovative, consumer-centric products and services and ensuring consumers access to the latest advancements in telecommunications technology.

A positive future and job security would be created for employees of AT and stakeholders that amount to over 10,000 Ghanaians to contribute towards the growth of the Ghanaian economy.

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