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Expresso Ghana is yet to secure needed investment for its telecoms business, whose liquidity has been described as rapidly drying.
Almost one year after the company announced the need for an investor to propel it back into operations and profitability is yet to secure any.
Expresso’s market share is currently less than 1% in the market, attributed to the company’s inability to adapt to the technological needs of the telecoms sector.
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Expresso’s operations in Ghana has not been devoid of corporate turmoil, as competitors like MTN and Airtel, some years ago, decided not to transfer calls to Expresso numbers due to the company’s failure to pay back debts owed them under the Interconnect Clearinghouse arrangement.
Subscribers of MTN were asked to port to other networks by the National Communications Authority.
Expresso’s inability to attract the needed investment has been attributed to the company’s links with Sudan Telecom, due to the UN sanctions on the company’s country of origin, Sudan.