Ugandan Govt takes over Uganda Telecom

By John Lee.

The government of Uganda has reportedly taken back the ownership of Uganda Telecom (UTL) with immediate effect, following what has been described as the “withdrawal” of Libya’s state-owned UCom, which held 69-percent of the shares in UTL. The Ugandan state owned the remaining 31 percent.

According to NTV, Uganda’s Minister of Finance and Planning, Matia Kasaijja, said his government has received notification that UCom would no longer provide funding to UTL, and that the company had directed the resignation of all of its five representatives on the UTL board.

The Libyan Post, Telecommunication and Information Technology Holding Company (LPTIC) owns UCom via its subsidiary LAP GreenN.

(Sources: NTV)

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