Business
1.7m internet subscribers desert Glo in 4th straight loss. Is the end near?
The Nigerian Communications Commission (NCC) has revealed that not less than a million subscribers have exited the Glo network.
NCC, in its recent publication for November 2019, disclosed this development, putting the figures at 1, 671, 766 for Glo, the Nigerian-owned network service provider.
The negative result becomes worrisome as it comes in a trend, the 4th month in a row for the network provider. And without any positive indication at sight, it poses a financial threat for the telecommunications company.
It would be recalled that Etisalat, now 9mobile, once took this course. After wading through rough times, eventually plunged into debts.
READ ALSO: Nigeria’s broadband infrastructure to get $732m boost in 4yrs –Here is what the NCC’s plan entails
While Etisalat may be a young company in Nigeria at that time, Glo, here, has been operating in this space for nearly 20 years. The development is a strong indicator, especially for analysts, that a troubled market performance might be underway. The projections are that if the situation persists, the rapidly declining fortunes may force stakeholders to pull the rug on its management.
Financial analysts are, therefore, eagerly awaiting the December 2019 and early 2020 figures to draw further conclusions. Within the period, it is envisaged that the leadership of the once thriving venture will scramble solutions to avert a major crisis.
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