Telecom operator Expresso has denied reports that it has shut down operations following its growing financial and operational challenges.
Expresso which has the lowest voice and data subscribers in the country has been faced with several challenges for some time now.
Majority of Expresso’s challenges has been tied to its affiliation with Sudan and Sudatel which has made difficult to raise capital locally and internationally and deal with vendors.
Two years ago Sudatel initiated moves to sell its shares in Expresso.
It also gave the former National Security Coordinator, Colonel Larry Gbevlo-Lartey (retired) gave him the power of attorney to run the telecommunications company.
Despite the move the telecom operator is still struggling to stay afloat.
Expresso’s Chief Commercial Officer Freddie Quainoo spoke on Citi FM’s business news that, Expresso currently is in negotiations with a number of local investors and will soon solve its challenges.
‘We have not shut operations, are lines are working, we are operating like a normal telco, yes we are having some challenges which is not too new in our industry however there a lot of discussions ongoing with some local companies and potential investors who have expressed interest in the company depending on how things go with the owners, the regulator and government. Hopefully very soon we will see the company recover from its woes.’ He said.
Source: citifmonline