UTL’S LIBYAN MANAGERS ALSO OUSTED
As Uganda’s decision to fully apply the sanction and asset freeze regime mandated by the UN Security Council against assets in Uganda owned by Gadaffi and his cronies, more news emerged about how these activities ‘show teeth’ for the affected companies.
Uganda Telecom’s Libyan Chief Executive – described by several staffers known to this correspondent as ‘little liked and generally considered a failed appointment’ was relieved of his duties by government and the Company Secretary elevated to Acting Chief Executive, while Libyan board members too found themselves ousted as government is set to appoint new board members and chairperson in line with removing any oversight or influence over the company exercised by Gadaffi’s goons.
It was however strongly emphasized that government would not assume any financial liability on debts owed by UTL to other companies, making specific reference to the outstanding debt Uganda’s market leader MTN claims worth 20+ billion Uganda Shillings in inter-connection fees.
This matter is before court and has been for some time now and will have to be resolved by commercial negotiations or court order, but otherwise government will not pay for nor accept liability for the previously privatized company’s debts.
How the fortunes of the previously rich and mighty have changed, adds this correspondent in closing.