The deputy minister for Trade and Industries, Mr Carlos Ahenkorah, has praised the merger of AirtelTigo for their foresight. He also advised corporate leaders and owners of firms to see mergers and acquisitions (M&As) as a way to end their struggles.
The deputy minister made the call at the launch of AirtelTigo Business in Accra, last Friday.
“It is very sad that when many companies do not do well knowing perfectly that the only solution they have is to merge with a stronger partner or make themselves available to be acquired, they will rather see their companies die,” Mr Ahenkorah stated.
He also added that “When a company is struggling they are not exempted from paying taxes but when they merge with another company these taxes are shared among them and instead of each paying, they are seen as one company and they pay taxes as such and this releases all tax stress from both companies.”
The Chief Executive Officer of the company, Ms Mitwa Kaemba Ng’ambi, said the way in which business are done have transformed and it was therefore, necessary for businesses to catch up with the new trend to be able to satisfy the growing demands of their customers.
Ms Ng’ambi said emerging enterprises were key growth drivers for the economy and it was necessary to provide them with the needed support, Graphic online writes.
“When such businesses thrive it helps to improve on the economy so if they are not getting the necessary support and they collapse, it goes a long way to affect the economy” she stated.
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