Citi Business News can confirm that the National Communications Authority (NCA) has begun the processes to revoke the license of telecommunication company Expresso.
According to the NCA’s Director for Engineering Henry Kanor the prolonged inactivity of Expresso is affecting industry stakeholders and creating a shortfall in the revenue targets of the regulator and government.
In an interview with Citi Business News, Henry Kanor said there will be a policy statement on Expresso shortly if it fails to get an investor to invest in the company soon.
“We have a regulatory regime that is enshrined in their license and so we gave triggered that and a discussion has to be taken in that regard. I should think that is why they are now seriously looking for investors to come invest in the company.”
Henry Kanor stated that “The status quo cannot remain the same for long, we want to make sure that customers get the best services, we want to get revenues for government and as regulator we need revenue to survive.”
He further told Citi Business News that the prolonged inactivity of Expresso is disturbing which is affecting the company’s sub-contractors, workers and all other stakeholders.
“We have triggered the regulatory processes to revoke the license, it is a long process and I cannot say how long it will take but the process will end at a time. And am optimistic very soon a policy statement would be made on the company” he stated.
Expresso has been struggling to secure an investor for some time now, the development has led to a reduction in Expresso’s market share to about 0.36% as at the first quarter of this year.
Earlier some players within the telecom industry warned that the company risks folding up if it fails to find an investor soon.
The woes of Expresso have in the past affected its operation with some of its competitors– MTN and Airtel.
The two companies had been compelled to block calls from Expresso over unpaid debts under the Interconnect Clearing House(ICH).
In what appeared to be an unending feud, the industry regulator, the National Communications Authority (NCA) recommended that subscribers of Expresso port to other networks.
Association with Sudatel
Expresso’s challenges have largely been attributed to its affiliation with Sudatel from Sudan which has made difficult for Expresso to raise capital locally and internationally due to sanctions placed by the UN on Sudan.
Also, moves by Sudatel to sell its shares in Expresso in 2013/2014, granted former National Security Coordinator, Colonel Larry Gbevlo-Lartey (Retired) the power of attorney to run the telecommunications company.
By: Norvan Acquah – Hayford/citibusinessnews.com