The performance of access
group, over the years, has come under sharp focus and criticism for the lucid way the management is carrying its business. The declining revenues and profits and lately turnover has greatly affected its share price in the NSE and considerably reduced its market capitalization, indeed it is the worst performing stock in the NSE. Kenya
This poor performance need to be tackled by taking drastic measures on the company’s management, someone need to take responsibility for these losses. The board room squabbles that have been witnessed in the past just show how the management of this company lacks direction and strategic planning to turn around the fortune of this company.
Lame excuses should not be tolerated anymore, it is time to make that difficult decision of sacking the MD and recruit a new and fresh CEO to salvage and grow this dying company.The latest assertion by the current MD to the effect that they are doing well in all sectors and there is no need to change strategy or product range shows how myopic and unrealistic he is given that in their latest financial report price war and competition from telecommunication companies were quoted as being partly to blame for the reduced earnings.
The Latest information from the Communications Commission of Kenya (CCK)indicate that mobile service providers have 98 per cent of all internet service subscription numbers as at January 2011, with the rest being shared out between 10 stand-alone ISPs. Safaricom the countries largest telecommunication company controls 92% of that market. But in terms of revenue share Access
still remains top with an estimate 40% of the corporate clients. Using this statistics coupled with recent revelations of principal shareholders exiting the business through offloading of their shares through the NSE, It’s imperative that a new person is recruited to safeguard the interest of other shareholders. Kenya