UTL will not shut down

16 Apr 2012

Managing director of Uganda Telecom Ltd (UTL), Donald Nyakairu has refuted claims that the cellco was facing liquidation over unpaid fees to rival operator MTN Uganda. According to TMT Finance, Nyakairu acknowledged the UGX22 billion (USD8.75 million) debt but was confident that a settlement can be reached. With the resolution of the conflict in Libya, the home of UTL’s majority owner, UTL has a solid backing, he said adding that ‘LAP GreenN [Libya African Investment Portfolio Green Networks], which has several telecom operations in Africa is committed to investing further in its subsidiaries and Uganda Telecom remains its flagship operation.’

Uganda, Uganda Telecom Limited (UTL)