InternationalMoney and BusinessNational

GNA demands return of Libyan assets in Uganda

KAMPALA – The Tripoli-based Government of National Accord (GNA) has requested Uganda to allow it to regain Libya’s assets in the country, according to the Ugandian PML Daily.

A team of GNA officials were in the Uganda as they negotiated with government officials in a bid to regain their assets that include the defunct Uganda Telecom LTD, Tropical Bank, Lake Victoria Hotel, shares in Uganda National Housing and Construction Company, Oil Libya, among others.

The Libyan delegation, which included Ambassador Fawzi Bouketf, is said to have met Finance Minister Matia Kasaija, Investment Minister Evelyn Anite and Attorney General William Byaruhanga, PML Daily reported.

Ministry of Finance spokesperson Jim Mugunga confirmed that the meeting took place.

“They met the minister about their assets and I think government has no problem with partnering with Libya,” he said.

Ms Anite, when contacted, also confirmed the meeting and explained that the Libyan delegation demanded that to repossess the assets.

“As Government, we don’t grab other people’s assets. We took over because the Libyans had left and we didn’t want these companies to collapse. They told us that their country has stabilized and they are ready to return and do business with government of Uganda,” she said.

The minister also confirmed that they asked the Libyan delegation to avail funds for the acquisition of their shares in Uganda Telecom LTD which she put at UGX200 million.

The government took over UTL after the Libyan government pulled out. However, with the country becoming stable of late, it has embarked on rebuilding it’s economy. Government took over the affairs and management of UTL in 2017 after the Libyans pulled out, and on several accusations tried to get an investor but failed, according to PML Daily.

Tags

Related Articles

Close