Uganda Telecom Ltd (UTL) will receive capital from the Libya Africa Investment Portfolio Green Network (LAP Green Network), which owns 69% of the telco, according to local news source The Observer. LAP Green Network’s new board chairman Wafik Shater said ‘We are currently looking at UTL’s critical funding need for the remainder of this year. After ascertaining the actual funds required, we will inject them into our operations here.’ UTL has suffered indirectly as a result of sanctions imposed on LAP Green Network by the UN during Libya’s civil war, worsening the telco’s already substantial debts
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OVETEL UTL to receive cash injection to end debt woes
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