Libya’s LAP Green Networks is in full swing taking back total control of Uganda Telecom Limited following the lifting of United Nations sanctions on all Libyan assets earlier this month.
When the sanctions were imposed last year at the height of the Libyan uprising, the Uganda government took over management of the company in order to enforce the sanctions.
The reinstatement of management control of Uganda Telecom Limited is expected to give LAP Green management appetite to look for opportunities to further expand its geographical footprint in Africa.
“The company expects to invest $60 million in network and infrastructure expansion,” said Donald Nyakairu, acting managing director, Uganda Telecom.
He said the investment is expected to raise the country’s mobile subscription number to 2.2 million from the current 1.6 million.
LAP Green controls 69% of the fixed and mobile telecommunication company, while the Ugandan government owns the minority with 31% shares.
Wafik Al-Shater, chairman at LAP Green, said the group’s directors have been fully reinstated as Uganda Telecom board members and have resumed their management responsibilities of the company.
Al-Shater said with the new board of directors and emphasis on commercial objectives, the new management team has been recruited with a focus on developing a growth strategy for the company.
“Libya and its people have come through tough times and with elections about to take place for a democratic government, there is a new sense of stability and optimism for the future,” Al-Shater said.
He said the reinstatement of Uganda Telecom represents a step forward for LAP Green in the restoration of their legitimate fixed line and mobile telecoms assets across Africa.
“Over the past few months, LAP Green has been assessing the various operations and has developed a good understanding of what the requirements are going forward in the restoration of its assets in Africa,” Al-Shater explained.
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