Telecom Analyst, Fouad Chaalabi has backed moves by the National Communications Authority (NCA) to revoke the license of Expresso.
Mr. Chaalabi bemoaned the relatively minimal impact of Expresso as such, he believes the regulator needs to intervene to sanitise the industry.
His comments follow a formal notification by the NCA to Expresso, of the Authority’s intention to terminate its Mobile Cellular license.
“I think what the NCA has done is the right thing to do especially because they have defaulted since 2014. I think they gave them ample time to rectify the issues and I don’t think that even at that time they were in a position to change anything,” he told Citi Business News.
According to the NCA, the move is due to Expresso’s inability to meet its regulatory obligations.
Expresso, last month appealed for an extension of the timeline leading to a possible revocation of its license.
But Mr. Chaalabi maintains that the move taken by the NCA is commendable.
“In my professional opinion, there is no need to redeem themselves, I don’t think they have that influence in the Ghanaian market and I think that as investors, I will just close down and find some other avenue to invest,” he added.
–
By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana