Ghanaians must own 30% of telecom service providers says Minister of Communications

Mergers, Acquisitions and Financial Results

Companies in the business of providing infrastructure services for telecom firms will now have to be partly owned by Ghanaians.

According to a new directive from the Ministry of Communications, Ghanaians must own at least one-third of telecoms providers. The directive which sets out conditions for the issuance of Class One Communications Infrastructure license by the National Communications Authority, also adds that one third of their sub-contracts must also be carried out by indigenous enterprises. This should mean that the players will have to satisfy the conditions before they can secure the license to operate.

Communications Minister Haruna Iddrisu told Joy Business the move is another initiative to break the dominance of foreigners in the sector. “Regrettably we’ve already lost all the giant players to foreign players as a result of the huge investments or capital outlay that is required [in the industry],” he said.

He said the directive was necessitated by the fact that “almost all the telecom operators are ceding the ownership and control of their cell-sites to other entities.”

“We have a duty and a responsibility to create business opportunities for the Ghanaian people and we are not ashamed about that,” he added. He insists Ghanaian businesses, though very capable have not been given a fair chance.