The Managing Director of Databank Kojo Addae-Mensah has said that the upcoming MTN Ghana Over the Counter (OTC) must be looked at again.

He explained that this is because the current arrangement will cause retail investors to be short-changed.

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The MTN Ghana Over the Counter (OTC), will allow the telecom company to offload about 35percent of its shares to locals but not list publicly.

MTN agreed that it will offload about 35percent of its shares to local investors in exchange for a 4G licence to operate in the country. This decision by MTN got many investors disappointed. Most people expected the telecom giant to list publicly instead of using the OTC route.

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Mr Addae-Mensah told Business and Financial Times that "MTN is taking advantage of a loophole and going through the route of an OTC, which is meeting the condition of offering a percentage to local investors, and not going fully public. This offer will fall in the hands of one or two institutions and individuals.”

“I do not think that was the spirit of the condition. I think the National Communications Authority (NCA) or Ministry of Communications must relook at this and force MTN to properly list on the GSE," the investment banker said.