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    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

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    BoG Governor confident inflation has peaked; expects rate to start declining

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    BoG’s inflation targeting framework can’t reduce rise in inflation – IEA

    Monetary Policy Rate must be increased to 19% to check inflation – IEA

    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

    Policy rate likely to be increased to tame inflation – Databank CEO

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    Victor Yaw Asante, FBNBank Ghana MD

    Banks will continue to innovate to meet customers’ expectations – FBNBank’s MD

    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

    Policy rate likely to be increased to tame inflation – Databank CEO

    Banking Consultant bemoans continuous charging of unfair fees by banks

    Chamber of IPPs disappointed over ECG’s tariff increase request

    A comprehensive storage strategy will deal with post – harvest losses & inflation – CSIR

    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

    NPA allays fears of fuel scarcity in the country

    Fuel prices to rise marginally in second pricing window of May – IES

    Gov’t to put measures in place to reduce ‘imported inflation’ – Ofori-Atta

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

    Seth Terkper advises against e-levy; urges government to run to IMF

    AfCFTA members conclude negotiations on rules of origin to enhance free trade

    Implement strategies to sustain increased consumer preference for digital payments – Bawumia

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NCA to revoke Expresso’s license

bycitibusinessnews
August 18, 2016
in Government, TECHNOLOGY, Top Stories
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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.

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“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.

Expresso’s challenges

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/Ghana

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