Reports of a pull-out by Globacom from the Ghanaian market have been confirmed by a senior official of the company who says “investment goes where it is appreciated.”

Derek Obuobi told Joy Business’ Bernard Saibu the company appears to be hitting a brick wall at every turning and may just pull-out.

Ghana’s national daily, the Daily Graphic had reported Monday morning of the possibility of the Nigerian telecommunication firm pulling out even before it rolls out.

But officials of the company had remained tight-lipped, or at least would not go public on the matter.

But Derek Obuobi told Joy Business the many frustrations the company was going through make officials wonder if it is imperative to begin operations.

“At every turn we meet a brick wall; if it is not some regulators, it is probably from neighbours or some District, Municipal and Metropolitan Assemblies or what have you.

“It is beginning to be quite a source of frustration,” he lamented, adding they are considering the option of pulling out and its implication.

Explaining the reason for the seeming delay in the roll-out of Glo’s operations, Mr Obuobi said they did not buy into an existing market but had to develop everything from the scratch.

Even though it is yet to begin full operations in Ghana, Glo has invested millions of dollars in Ghana’s economy including its sponsorship of the country’s premier league.

Play the attached audio for excerpts of the interview

Story by Nathan Gadugah/