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16 SITES SHUT DOWN as Generators and Cell Towers turn Collaterals for Comium

It is unarguably true that the Comium Mobile Phone Company can be described among its competitors as an empty egg shell with less or no value. Even the market value of this establishment is unappreciated, an institution that now requires huge financial input to put it on a sober tracking and make it enviable and competitive. Just few days back, precisely Monday 27th January 2014 Mr. Joe Amara Bangali called it quit after he had relentlessly used all his expertise to correct the deteriorating condition but failed and could no longer weather the storm; he therefore marched out of the building voluntarily.

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But his resignation did not make the expected news impact either to former workers of the institution or those that are currently groping in darkness.  Most of them are not happy with him, and it depends who one’s talk to, just to get the real story about him, which varies from one worker to another.

Not only has Comium deprived its suppliers their legitimate payments, but also its subscribers whose hard earned money is used for the purpose of communicating to love ones and family members. Several cell towers in the Provincial Districts of South, East and North have collapsed. Investigations by this medium have discovered that about Sixteen cell towers are no more active and not even  transmitting signals from one cell tower to another. The cut off has been as a result of no power supply from both generators and solar panels that are located in some of the regions. Some of the Towers can be found in Zimi, Pujehun, Kabala, Rokuprr, Blama, Segbwema, Tongo Field and more. Inside sources at Comium have revealed that the Customer base has reduced considerably, thus making the institution less competitive in the Mobile Phone Market.

What may sound bizarre to the ears of authorities at the Central Bank and NATCOM is that Comium had used generators as collaterals for several loans obtained from the Commercial Banks. The same generators the Company had sold to SSGI, the security Company that was providing security services and fuel to the Company to carry out its operation. In addition, most of the cell towers are also used as collaterals to the Commercial Banks for more loans that the Company is battling with to repay. Those banks that risk depositors’ money may be regretting doing so as the machines are no more appreciating due to the condition under which they had been operating.

The Bank Managers that approved those loans now have a lot of explanations to give for approving loans using generators as collaterals and cell towers that currently have no market value and depreciating in value by the day, even the Switch Board at Comium Office is reportedly used as a collateral for bank loan.

Probably among the reasons that caused Mr. Joe Amara Bangali to resign is the inability of Comium to pay rents for senior officials and experts who were flown from Beirut to Sierra Leone to work. Some came as visitors and later transformed to permanent workers without obtaining the necessary valid working permit.

Mr. Ziad Tout came as a visitor and later changed his status from being a visitor to a worker at Comium allegedly without going through the Ministry of Labour and Employment and the Sierra Leone Immigration Service.

Mr. Ziad Tout came in September 2013 as a team leader to assess the situation relating to nonpayment of Salaries to Workers, loan repayment and payment to suppliers for goods and services.

Prior to his new assignment in Sierra Leone, Mr. Ziad Tout had worked for Comium in Beirut without receiving salaries for months so when he was alerted to travel to Sierra Leone and responded positively, that sent surprises to a number of his friends and relatives. The secret Mr. Ziad Tout did not reveal, but his activities can tell even the unsuspecting minds why he agreed to come to Sierra Leone and take over a Company that could best be described as an empty shell.(next issue)

Posted by on 5:19 pm. Filed under Breaking News, OTHER NEWS. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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