Tag Archives | LAP GreenN

Libya, Uganda in Legal Row over Telecom Company

By John Lee. Africanews reports that the Libyan government has warned the Ugandan government over its move last month to repossess the Libyan government’s shares in Uganda Telecom Limited (UTL). Libya’s state-owned UCom had held 69-percent of the shares in UTL since 2010, with the Ugandan state owning the remaining 31 percent; the Libyan Post, […]

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 […]

LAP GreenN’s Fall from Grace was Utterly Avoidable

From Sami Redwan.  Any opinions expressed are those of the author, and do not necessarily reflect the views of Libya Business News. The telecoms provider LAP GreenN’s fall from grace has been nothing short of spectacular. Established in 2007 with a total investment capital of over US$1 billion, LAP GreenN is wholly owned by the […]

LAP-Tripoli Hits at “Poorly Managed” LAP GreenN

The Tripoli-based leadership of the Libyan African Investment Portfolio (LAP), which owns LAP GreenN, said in a statement on Monday that it was “unable to continue to fund a poorly managed LAP GreenN.” LAP CEO Mohsen Derregia, said: “LAP GreenN received US$ 208 million from LAP between November 2011, when Ahmed Kashadah and Wafiq Shater […]

LPTIC Secures Key African Investments

The Libyan Post Telecommunications and Information Technology Company (LPTIC) has announced the strategic consolidation of several Libyan owned shareholdings in mobile and fixed-line network operating companies in sub-Saharan Africa. According to a statement from the company, this restructuring will enable LPTIC, which through its subsidiaries has over 15,000 employees, to safeguard and stabilise important African […]

LAP GreenN and Ivorian Gov’t reach Agreement

The Libyan Africa Investment Portfolio (LAIP) has announced that the Ivorian government will not nationalize the ailing GreenN Cote d’Ivoire telecoms company. LAIP, the owner of LAP GreenN, and the Ivorian government have reached an agreement to re-structure the company which has failed to pay licence fees, according to a report from Medafrica Times. A […]

Libya to Inject Cash into UTL

Uganda Telecom Limited (UTL) has been given two months, and a cash injection of $56 million from the Libyan state, to sort out its problems. In an interview with The Monitor in Kampala, Libyan Foreign Affairs and International Cooperation Minister Mr Mohammed Dayri said he had agreed with the Ugandan government to re-examine the telecom […]

LAP GreenN “Growth Story of the Year”

LAP GreenN, a wholly owned subsidiary of the Libya Africa Investment Portfolio, has won in the category of ‘Growth Story of the Year’ at this year’s TMT Finance & Investment MENA Awards 2014 held in Dubai recently. According to a report from Uganda’s Independent, the company’s CEO, Wafik Al Shater (pictured) and COO, Dimitris Lioulias […]