cyprus telecommunications authority financial practices

Unveiling the Challenges at CyTA: Audit Office Findings

The Audit Office has uncovered concerns at CyTA, Cyprus’s telecommunications giant, regarding questionable investment strategies, noncompetitive contract awards, regulatory noncompliance in mobile phone base station operations, controversial strategic ventures, and potential conflicts of interest in expanding into the electricity market. These findings highlight the need for CyTA to address financial, operational, and ethical challenges to maintain transparency and trust among stakeholders.