Major Decision On Ghana Telecom Today

Government will today announce its position on the state of Ghana Ghana, following the expiry of the technical and consultancy services agreement between the company and Telekom Malaysia. The agreement expired yesterday. Top officials of the Ministry are finalizing the draft document on the company for discussions with government officials.

The stock purchase and sale agreement signed between Ghana Telecom and the Malaysians on Febrauary 20, 1997 gave the Malaysians absolute control over Ghana Telecom.

Although the Ghana government maintained majority a majority share of 70 per cent in the company with the Malaysians having just 30 per cent, the majority of seats on the board and managerial control of the company still remained in the hands of the Malaysians. Government is expected to maintain its earlier position not to renew the contract although some media reports have suggested that the contract will be renewed.

Media reports that government has renewed the contract have reportedly enraged workers of Ghana Telecom who argue that the Malaysians repartriate profits into their company instead of re-investing it into the Ghanaian firm.

Officials of the Communications and Technology Minstry were expected to hold a crisis meeting with the workers on Tuesday. They are however tight-lipped on the issue saying that they will address all concerns at a press conference today.