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Orange Kenya CEO willing to step down

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Orange Kenya CEO Mickael Ghossein said he would step down at the Kenyan Treasury’s request, but said no such request had been made.

Orange Kenya CEO Mickael Ghossein. (image: file)

Ghossein’s comments come after the government demanded more representation within the company’s management as a precondition for additional funding from Nairobi.

Last week the company requested a KES 10 billion ($120 million) cash injection from the Kenyan government.

Ghossein said Treasury would struggle to meet their demands “as the government is a minority shareholder (49%) and changing the current agreement with France Telecom (51%) is only possible if they increased their ownership to become the majority shareholder”.

Orange Kenya’s board of directors have scheduled a general meeting for April 11 to discuss potential financing options for the nextfour-years.

Joseph Mayton

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