Ncell CEO Michael Foley Resigns: Investment Concerns & Impact

5th August 2026, Kathmandu

Ncell CEO Michael Foley resigns after 10 months, citing regulatory hurdles and an unfavorable foreign investment environment in Nepal’s telecom sector.

Ncell CEO Michael Foley Resigns

The telecommunications sector in Nepal has faced a major setback following the resignation of Michael Foley, the Chief Executive Officer (CEO) of private telecom giant Ncell. Foley stepped down after serving for just about 10 months, citing personal and professional reasons amid growing friction over the country’s business climate.

Key Takeaways: Why Did Michael Foley Resign?

Short Tenured Leadership: Foley’s resignation—submitted on August 25—has been accepted by the board.

Interim Leadership: Dilliram Adhikari, Ncell’s Chief Corporate and Regulatory Affairs Officer, has taken over as interim CEO.

Investment Climate Concerns: Sources indicate that increasing regulatory pressures, legal hurdles, and an unfavorable environment for foreign direct investment (FDI) drove his departure.

Stalled Expansion Plans: Foley had arrived with ambitious visions for high-speed 5G deployment, home fiber internet, and data centers, pledging a $250 million investment contingent on government support.

Regulatory Hurdles and the NTA Directive

Foley’s exit closely coincides with a strict directive issued by the Nepal Telecommunications Authority (NTA). The regulatory body barred Ncell from selling, transferring, or mortgaging any company assets—including land, buildings, equipment, and BTS towers—without prior authorization.

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With Ncell’s operating license having only three years remaining, stakeholders warn that these restrictive measures hinder future capital injection. This uncertainty threatens to impact quality of service for millions of Nepalese consumers.

The Broader Impact on Foreign Investment in Nepal

While Ncell has reiterated its readiness to restructure equity and offer shares to interested Nepalese citizens and organizations to ensure long-term service continuity, industry analysts remain concerned.

Experts and corporate stakeholders argue that recent administrative actions conflict with the Telecommunications Act, the Foreign Investment and Technology Transfer Act (FITTA), and international treaties.

For Nepal’s emerging digital economy, this high-profile departure sends a discouraging signal to prospective international investors looking to back large-scale tech and telecom infrastructure projects.

FAQs

Who replaced Michael Foley at Ncell? Dilli Ram Shrestha, Ncell’s Chief Corporate and Regulatory Affairs Officer, has assumed all CEO responsibilities on an interim basis.

Why did Michael Foley step down? Foley resigned due to personal and professional reasons, driven largely by mounting legal pressures, policy hurdles, and a challenging environment for foreign investment in Nepalese telecommunications.

What were Foley’s plans for Ncell? He aimed to drive major infrastructure upgrades, including rolling out high-speed 5G, expanding fiber-to-the-home internet, building data centers, and injecting up to $250 million in fresh investments.

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