Following the change in government in Libya the administrators appear to be in a hurry to get business back to normal.
First order of business is taking stock of all assets in and outside Libya owned by the oil rich nation. And one of the major assets is the telecoms firm LapGreen Network which has a presence in nine countries. In what appears to be an effort to clean house the group has announced major changes in the board of directors.
The new group chairman is W. Abdul Rahman Al Shater. Mr. Shater will also be acting as group CEO. He takes over from Engineer Abdulbaset Elazazabi.
The new administrators are keen on further investing in the telecoms firm to strengthen their position as fast emerging telecoms giant. Their investment plans have further been boosted by the lifting of sanctions by the United Nations.
The UN placed sanctions on all LapGreen and Libya Investment Authority assets (LIA). The lifting of these sanctions now means the group can continue on its growth path.
In Zambia the company operates as Zamtel with a 75% stake while the rest is owned by the government. It is the country’s only total telecommunications solutions provider offering broad internet, fixed and mobile phone services.
Since the partial privatization, the company has been experiencing positive growth trends with its GSM arm growing by 228% from July 2010 while its ISP arm has grown by 2000%. The company is currently expanding with the on-going installation of 3G and 2.5G technology.