Merging AirtelTigo with MTN Would Have Been a Smarter Deal than Telecel – Industry Analyst

Telecoms industry player, Maximus Ametorgoh, has questioned the government’s decision to merge AirtelTigo (AT) with Telecel, instead of the current industry giant, MTN.

Maximus Ametorgoh argues that, given the current woes of AT and Telecel, a merger between the two companies will not result in any significant difference. For him, this is a merger of two weak industry players and hence will not stand any chance against MTN.

“They [MTN] introduced a lot of innovative products, but AT, what power are they taking to Telesol, and what power does Telecel have to boost AT’s coverage?” the industry player quizzed.

Maximus further argues that if profitability, innovation, and knowledge transfer were the true priorities, then a merger with MTN would have made far more strategic sense.

“For me, I think that because of government investment in two telecoms, that’s why they are merging the two. But if you are thinking of profitability, if you are thinking of transfer of knowledge, I would prefer moving it to an MTN than Telecel,” he emphasized.

According to Ametorgoh, the AT–Telecel union appears less about competitiveness and more about the government protecting its stake. “Because of government investment in two telecoms, that’s why they are merging the two,” he observed, suggesting the move is motivated by financial obligations rather than a clear market growth vision.

He further stressed that MTN’s dominance in the Ghanaian market stems from decades of consistent innovation, brand strength, and nationwide infrastructure expansion.

From pioneering micro-bundling of airtime and data to introducing customer-friendly service models, MTN has set the pace for telecoms in Ghana.

Ghana’s telecom market is heavily tilted toward MTN, which remains the market leader despite restrictions as a Significant Market Power (SMP) operator. For Ametorgoh, the AT–Telecel merger will do little to shift this balance.

However, with AirtelTigo incurring a loss of about $10 million in 2025 alone, the bigger question is, will MTN accept such a merger with this level of liabilities?

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