Uganda Telecom, the troubled former Libyan and Ugandan governments-owned telco has been sold to a newly formed Uganda government telco at UGX316.4 billion, CEO East Africa Magazine can exclusively reveal. The sale follows failure by Uganda telecom’s to pay its debts- amounting to over UGX668 billion, prompting it to be entered into insolvency, and subsequently progressed into administration in April 2017. Before being entered administration, Uganda Telecom Limited (UTL) was 69% owned by Ucom, a Libyan government company and 31% by the government of Uganda (GOU). Following the 2011 overthrow of then Libyan President, Col Muammar al-Qaddafi, and the subsequent…
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