Rumours have it that Expresso halts its operations due to its growing financial and operational challenges since it has been faced with several challenges with lower voice and data coverage.
It is believed that the company’s challenges emanated from its affiliation with Sudan and Sudatel which has made difficult for it to raise capital locally and internationally.
It could be recall that, in 2013/2014, Sudatel initiated moves to sell its shares in Expresso, a development that granted the former National Security Coordinator, Colonel Larry Gbevlo-Lartey (retired) the power of attorney to run the telecommunications company.
Expresso’s Chief Commercial Officer Freddie Quainoo who spoke to Citi Business News said, the company is currently in negotiations with a number of local investors and will soon solve its challenges, stressing that the company has not shut down operations.
“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.
