VANCOUVER, BC / ACCESS Newswire / June 4, 2025 / Rektron Group Incorporated ("Rektron" or the "Company"), (CSE: REK.U)(FRA: F75) a global leader in energy and infrastructure, in a strategic alliance with Afritel Ghana Limited ("Afritel"), has announced plans to acquire a sixty percent (60%) majority equity stake in AT Ghana Limited (formerly Airtel Tigo), one of Ghana's premier telecommunications providers (the "Acquisition"). Afritel, a respected telecommunications firm in Ghana, is founded by Nana Richmond Aggrey ("Mr. Aggrey") Mr. Aggrey is a pioneering figure in Ghana's telecommunication industry, co-founding Scancom Ghana Limited (Areeba), the first GSM (Global System for Mobile Communication) provider in Ghana, later acquired by MTN Ghana. The Acquisition signifies Rektron's diversification into the telecommunications sector and highlights its dedication to propelling infrastructure development, broadening connectivity and catalysing digital advancement across Africa.
AT Ghana is a telecommunication company, wholly owned by the Government of Ghana, that provides a broad spectrum of dynamic telecommunication services including voice, data, mobile financial services, and business connectivity solutions. Guided by its core vision of "A better life for our customers", AT Ghana strives to foster a more sustainable future by delivering next generation products and services that enable economic and social progress for its customers and stakeholders.
The Acquisition of a majority interest in AT Ghana will align seamlessly with Rektron's overarching infrastructure strategy of building resilient, connection-driven ecosystems across critical sectors. With AT Ghana's proven capability and its position as a leading mobile network operator in the country, serving over 2.3 million users, this investment will accentuate the Company's ability to generate stable cash flows and deliver long-term value. Moreover, the rapidly expanding digital landscape in Ghana presents significant growth opportunities for advanced telecommunications services, financial inclusion, and digital connectivity solutions. By leveraging Rektron's strategic vision and operational expertise, this partnership is poised to accelerate AT Ghana's trajectory of sustainable growth, further strengthening its market leadership and contributing meaningfully to the socio-economic development of Ghana.
The Government of Ghana has expressed strong support for the Acquisition, recognizing its potential to bolster the country's telecommunications infrastructure and digital economy.
"We are excited to take a significant stake in AT Ghana and appreciate the support of the Government of Ghana as we take a significant stake in AT Ghana. This aligns with our global vision to advance major infrastructure initiatives, foster innovation, and deliver value to consumers throughout the region," said Atanas Kolarov, Chief Executive Officer of Rektron.
"This partnership marks a major milestone in our mission to advance telecommunication services in Ghana. Through our strategic collaboration with Rektron bringing global best practices, strategic investment, and next-generation infrastructure - we will strengthen our mobile network, expand nationwide coverage, and modernize service delivery. These improvements will enable us to drive down the cost of mobile data while increasing speed, reliability, and access. By making affordable, high-quality connectivity available to customers across all regions - including remote areas - we will be empowering every Ghanaian to fully participate in the digital economy and benefit from the opportunities it brings," said Nana Richmond Aggrey, the Founder and Chairman of Afritel Ghana.
The Company, Afritel and the Government of Ghana entered in a Memorandum of Understanding (MoU) on May 21, 2025, in respect of the Acquisition, which is expected to accelerate AT Ghana's growth by leveraging Rektron's financial strength and Afritel's deep local expertise, ultimately benefiting millions of Ghanaian consumers and business.
Conclusion of the Acquisition remains subject to certain conditions, including the completion of satisfactory due diligence, the finalization of financial terms and conditions, execution of definitive documentation in respect of the Acquisition and the receipt of applicable regulatory approvals. While the parties are working collaboratively to a successful close, there can be no assurance that the Acquisition will be consummated. The Company will provide frequent updates with regards to the Acquisition.
About Rektron Group Inc.
Rektron Group Inc. (CSE: REK.U | FRA: F75) is a diversified leading multinational corporation dedicated to investing in innovative projects worldwide. Focused on emerging markets, Rektron aims to deliver sustainable growth and impactful solutions. Through its subsidiaries Rektron continues to serve global markets as a physical commodities trading and infrastructure company.
Rektron is committed to driving long-term value through innovation, responsible resource management, and a strategic focus on circular economy principles and communication.
Please visit www.rektrongroup.com for further information.
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to Rektron's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements in respect of the terms and completion of the Acquisition and the Company's diversification into the telecommunications sector. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Rektron's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, other factors set forth under "Cautionary Note Regarding Forward-Looking Statements" and "Risk Factors" in the Company's annual information form for the year ended July 31, 2024 and dated November 25, 2024, and other continuous disclosure documents available on the Company's profile SEDAR+. Rektron undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Rektron to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
No securities regulatory authority has either approved or disapproved of the contents of this news release.
FOR FURTHER INFORMATION CONTACT:
Martyna Jovaisaite
Rektron Group Inc.
investorrelations@rektrongroup.com
(604) 359-5412
Chris Santa Cruz
Alliance Advisors IR
604-787-0563
csantacruz@allianceadvisors.com
SOURCE: Rektron Group Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/business-and-professional-services/rektron-group-incorporated-announces-proposed-strategic-acquisit-1034530
