Zambia’s decision worries Libyan telecoms firm

Dar es Salaam, Tanzania (PANA) - Libya’s telecommunications investment arm, LAP Green, has said it is “deeply worried” by the Zambian government's announcement Tuesday reversing the sale of Zamtel, which is 75 percent owned by the Libyan firm.

“Our primary concern now is for our talented workforce, and for our one million subscribers who rely on our services to conduct their businesses and speak to their families and friends,” said LAP Green in a statement made available to PANA here.

Over the last few weeks, the Libyan African Portfolio (LAP) said,”we have made numerous attempts to find an amicable solution that satisfies all the parties involved and secures the best possible outcome for our employees and subscribers. We regret that the Zambian Government has not given us an opportunity to meet and discuss this matter.”

Under LAP Green ownership, Zamtel reportedly moved from a state of near insolvency to become a national success story, while its subscriber base grew by over 600 percent in just over 18 months.

LAP Green claimed it created 1,700 jobs in Zambia.

The Libyan firm categorically rejected any allegations of wrong-doing during the acquisition of its stake in Zamtel.

“Our acquisition was made through an open, transparent and competitive bidding process, overseen by well-respected international professional organisations and in strict adherence to Zambia’s established legal framework. We hope this situation can still be amicably resolved, and we welcome an opportunity to work with the Zambian government to achieve this,” the statement added.

LAP Green focuses on the telecommunications sector in emerging markets. It operates mobile, fixed and ISP telecommunications businesses in Uganda, Zambia, Cote d’Ivoire and South Sudan.

It is actively seeking to increase its footprint across Africa and the Middle East.

Meanwhile, it has been reported from Lusaka that Zambia’s Justice Minister Sebastian Zulu has said the government will defend its decision to repossess Zamtel’s 75 percent shareholding from LAP Green Network of Libya.
-0- PANA AR/SEG 24Jan2012