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