The Ugandan authorities are preparing to nationalize Uganda Telecom Limited (UTL), in which Libya has a share of 69%, the Libyan Ambassador in Uganda, Fauzi Bu Katif has warned.

Speaking to Al-Nabaa TV on Tuesday, he indicated that this step comes because of the negligence of the shareholder company LAP GreenN, a subsidiary of the Libya African Investment Portfolio, based in Dubai and headed by Wafiq Al-Shater who did not respond to the notifications that demanded his presence in Uganda to put an end to this issue and save the Libyans’ money.

"The Audit Bureau and the Central Bank of Libya are trying to hamper the nationalization process conducted by Uganda, however, their attempts are faced with the fact that Uganda only recognizes Tobruk government as a representative of Libya, but this government has done nothing to protect the company although it has received many notifications about this urgent issue." The Ambassador clarified.

Uganda Telecom Limited (UTL) is Uganda’s national fixed line, mobile and Internet provider. In 2007 LAP GreenN acquired 69% of its shares, and the Government of Uganda holds the remaining 31% of shares.