By John Chola – Lusaka - Zambia
07/ 01/2012
LAP GreenN, the Libyan owned telecommunications network, is deeply concerned about news reports that the Zambian Government is moving to seize the 75 per cent stake in Zamtel held by LAP GreenN.
Newly appointed Chairman of LAP GreenN, Wafik Alshater (top right), has told this news wire in a statement January 7, 2012 that his company bought its stake in Zamtel in June 2010 for US$257 million (ZK1.37 trillion) following an open, transparent and competitive bid process that was overseen by the Zambian Development Agency.
Erin Godbold of UK’s Portland Communications has confirmed with this news wire in a telephone interview from UK that LAP GreenN is has vowed to do “everything possible” to fight for ownership of “legally” acquired stake in Zambia’s Telecom – Zamtel.
“Zamtel is now a Zambian success story. Since LAP GreenN’s acquisition, Zamtel has attracted over 400,000 new customers and grown its market share from 3% to 11%. Furthermore, we have committed to investing US$129 million (ZK670 billion) in Zamtel over two years to create a truly competitive and world class telecommunications company,” says Wafik Alshater.
He adds that LAP GreenN is now under new leadership as part of broader changes in Libya.
“The new management is determined to safeguard its legally acquired assets which ultimately belong to the Libyan people, who fought a bitter war of liberation in 2011. We will pursue all options and do everything possible to retain our stake in Zamtel – a highly prestigious part of our pan-African network,” affirms Alshater.
He adds that: “We hope these reports are untrue, as this situation will not only be damaging to the telecoms industry in Zambia but would also send the wrong signal to those looking to invest in this country. LAP GreenN looks forward to continuing to develop Zamtel into a leading telecoms company, working with its partner in this investment, the Zambian Government.”
LAP GreenN is the telecommunications investment arm of Libyan African Portfolio (LAP), focusing on the telecommunications sector in emerging markets like Zambia.
It operates mobile and internet service provider (ISP) businesses in Uganda, Zambia, Ivory Coast and South Sudan.
According to its Chairman, Alshater, LAP GreenN is actively seeking to increase its footprint across Africa and the Middle East
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What Pan-African prestige are you talking about when you slaughter all Black Africans in the most barbaric and inhumane way under the pretext that they were Gaddafi loyalists?! Zamtel is for the Zambian people which need to be sold properly and not the Gaddafi way.
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