“Axiata Group Exits Ncell After 7 Years”

Sushmita Shrestha

Axiata Group Exits Ncell After 7 Years

The big telecom company from Malaysia, Axiata Group, has decided to end its seven-year investment in the Nepali telecom company, Ncell. They announced this decision on Wednesday, explaining that they are selling their 80% ownership in Ncell because the company’s profits have been going down for a while.

Axiata first came to Nepal in 2015 by buying 80% of Ncell. At first, they made a lot of money, but recently Ncell has been making less. According to a report from the Nepal Telecommunication Authority, Ncell lost more than 200,000 customers in just three months.

Axiata says that doing business in Nepal has become more difficult, so they are leaving. The rest of Ncell, 20%, is owned by Sunivera Capital Ventures, which is run by Nepali businesspeople.

This move by Axiata shows that they don’t see a bright future for their business in Nepal, and it’s a significant change for them as they have operations in six other Asian countries.

For more Tech news and deal follows our website. Till then, keep up with us on FacebookTwitterInstagram, and YouTube for the latest tech news. Also, subscribe to our website’s notifications as well.

Leave a Comment