Struggling Ghanaian telco Expresso Gets $300m Capital Injection

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Expresso Telecom is expected to restart full operations as Celltel by December, after the resolution of a 20-year ownership tussle.

Kludjeson International Limited, the original owner of the company, has taken over the operations of the pioneering telecom company.

Two decades of ownership struggle has adversely affected the company’s fortunes, evident in the continuous decline in its subscriber base over the years.

Its total voice subscribers have decreased from its record high of 394,051 in 2008 to 40,111 as at the end of March 2017 and 23,264 as at the end of April 2017 with a market share of 0.06 percent.

Kludjeson International Limited, however, says it has advanced moves to put the company back on a strong footing and ensure it regains its enviable position in the industry.

Officials have revealed plans are far advanced to invest about $300 million to turn around the company’s fortunes.

New strategic direction

Kludjeson International Limited says it has secured partnership deals with several reputable multinational technology firms that should reposition the company as a huge force to reckon with in the telecoms’ space.

The Executive Chairman, Kludjeson International Limited, Dr. Prince Kofi Kludjeson, says the company is all set to restart full operations.

“The new Celltel is going to be the best company in Ghana because we are going to provide a Wi-Fi strategy. We are moving to all the districts call it ‘One-village One-WiFi’. The President has a beautiful vision. One district, one factory yet there is no technology to drive those companies. So as a Ghanaian company are going to provide that.

Agreements have been signed and we have $250million budget to roll out the new strategy and it’s all going very well. We have Cisco leading, we have Google, we have Starlite from India for solutions. There is also Facebook monetizing, as well as Apple, Foscam. We’ll create jobs, we’ll create wealth,” Dr. Kludjeson noted.

He added that: “A lot of people have contacted me. It’s all already underway with engineers are in Ghana working. We’ve also met the NCA. They assisted us in the design. We take them there once they come to approve the process of technology. NCA is very supportive.”

 

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