12.03.2005 Business & Finance

GT to attract new private investor - Minister

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Accra, March 12, GNA - Mr Albert Kan Dapaah, Minister of communication on Saturday said Ghana Telecom (GT) is to get a strategic investor in the next few months. He told the Ghana News Agency at the Sixth Industry and Technology (INDUTECH) Exhibition at the Ghana International Trade Fair Centre that a decision to go public would be taken soon after the dispute with Telecom Malaysia had been resolved. He said Telecom Malaysia owed 30 percent shares in GT and stated that when the dispute was finally resolved government would sell a large portion to the public and a private investor.
"Government do not intend to absorb the 30 percent shares owned by the Malaysian company and was also not in the position to own greater part of the stake in GT because the growth and development of Information Communication Technology (ICT) should be championed by the private sector". The Minister said when this was done the new management would put in measures that would restructure and re-position GT to be more competitive both locally and in the sub-region. He said Ghana remained focused as far as ICT was concerned in the sub-region, adding that, the current achievement and development indicated that.
"As a nation we must be determined to ensure that we are not left behind in the knowledge gap and the ICT technological advances," he said. Mr Oystein Bjorge, Chief Executive of GT told GNA that for some years now the Company had been looking for a strategic investor to improve efficiency and management.

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