MTN, Goldkey in spectrum-for-shares talks

4 Dec 2018

MTN Ghana is in talks with local broadband wireless access (BWA) spectrum holder Goldkey Telecoms with a view to exchanging a proportion of its shares for the latter’s 4G-suitable 2600MHz spectrum. According to local press reports, the National Communications Authority (NCA) has already approved the move, which will form part of MTN’s ‘localisation deal’, which seeks to place a 35% stake in the hands of local investors – as per the terms of the cellco’s 4G licence, which was granted in December 2015.

According to TeleGeography’s GlobalComms Database, in January 2011 the NCA issued 2600MHz spectrum to GoldKey Properties Limited, but the start-up never utilised the frequencies and missed its rollout stipulations.

In related news, stricken Ghanaian BWA player Surfline – which owes the government GHS37.3 million (USD7.7 million) in unpaid taxes – is said to be in talks with Vodafone Ghana regarding a tie-up similar to the MTN-Goldkey proposal, although this deal is rated as less likely to succeed.