Ghana’s government is moving forward with plans to merge Telecel and AirtelTigo, two struggling telecom operators, in a bid to create a stronger competitor to MTN Ghana’s overwhelming market dominance.
The merger will combine Telecel — which recently acquired Vodafone Ghana — with AirtelTigo’s 3.2 million subscribers, giving the new entity an estimated 26% market share. By comparison, MTN Ghana controls nearly 79% of the market as of April 2025.
According to Communications Minister Samuel Nartey George, the merger is critical to stabilising AirtelTigo, which posted losses exceeding $10 million in just eight months.
To support the consolidation, the government has outlined a $600 million investment plan over the next four years, funded through spectrum sales, favourable policy measures, and private sector contributions. The integration process — including technical migration and staff restructuring — is scheduled for completion by the end of 2025.
This is not Ghana’s first attempt at telecom consolidation. Airtel and Tigo merged in 2017, but the combined company struggled to compete, with market share plunging from 25.82% in 2018 to just 7.89% by the end of 2024. Telecel, even after acquiring Vodafone Ghana, has also remained below the 20% mark.
AirtelTigo’s financial troubles have been compounded by a B3 credit rating, signalling high default risk. The merger is expected to improve operational efficiencies, but whether it can meaningfully erode MTN’s lead remains uncertain.
MTN, meanwhile, is doubling down. The company has pledged $1 billion in new investments to expand infrastructure and services in Ghana, reporting a 39.9% revenue jump in H1 2025. Its entrenched dominance continues to pose a formidable challenge for rivals.
Industry analysts say the merger could reinvigorate competition and benefit consumers through improved services and price adjustments. However, MTN’s scale, capital resources, and brand loyalty may leave it firmly ahead in Ghana’s telecom race.
