How a $35 Million Decision Contributed to Sierratel’s Decline, Minister Explains
The Minister of Employment, Labour and Social Security, Mohamed Rahman Swaray, has highlighted key historical challenges that contributed to the decline of Sierratel, the state-owned telecommunications company.
Speaking on the issue, the Minister revealed that a US$35 million loan secured from EXIM Bank during the previous APC administration was invested in CDMA technology. He explained that the technology later became obsolete due to the absence of factory support, significantly affecting the company’s operational efficiency.
According to Swaray, this strategic decision played a major role in weakening Sierratel’s performance, leaving the institution struggling to remain competitive in a rapidly evolving telecommunications sector.
He, however, reassured the public of government’s commitment to reviving Sierratel through innovative and sustainable measures aimed at restoring its relevance and improving service delivery nationwide.
