Libya’s LAP Green Networks is one step closer to making its final bid for a 75% stake in Zamtel, the Zambian government-owned telecom operator.
The Lybian operator will compete alongside Angola’s Unitel/Angola Cables, Russia’s Altimo Holdings/VimpelCom and Bharat Sanchar Nigam of India, to acquire a majority stake in Zamtel.
Zambia’s mobile penetration is around 33% in a population of 12,2 million people. With only 200 000 subscribers, Zamtel has been lagging behind rivals Zain and MTN.
Zain Zambia has 2.3 million subscribers, which translates to a massive 75% market share.
Moreover, the Zambian operator carries a debt burden of $125 million and an annual operating deficit of $17 million.
“We know it’s indebted, but those things can be sorted out”, commented LAP Green chief commercial officer, Hans Paulsen.
LAP Green Network owns 62% of Uganda Telecom and has recently bought 80% of Sudanese operator Gemtel. Besides Zamtel, the operator eyes stakes in Rwandatel of Rwanda, Sonitel and Sahelcom of Niger and Cote D’Ivoire and Ambitel GreenN of Sierra Leone.
[IT News Africa]
why do we have double standards, i thought the legislation states that 51% must be owned by Zambians. Is it not the reason BIFM of Botswana is reducing its shareholding so that it can comply with the legislation? so why is Zamtel’s 75% stake being offered to non Zambians
I feel very sad to read and comment on this, while i cant do anything to stop this corrupt deal. The only thing i can do is blog, what a hopeless situation. Am a telecom Engineer and Businessman, and i know that whoever will get zamtel will recover the money within 1 year. another sad part is getting zesco fibre and bundle with zamtel, what a foolish move. and moreever, this will give zamtel total monopoly on Telecom infrastructure in Zambia. note that at the moment, MTN, ZAIN, ALL ISPs are using zesco fibre and many more serious organisation. I know most bloggers here wont comment on this one, unless if it has do with SATA. In zambia we easily accept foolish thing and go to sleep peacefully.
This situation is Bad Hangandu, if u know wat is hapng to Zamtel employees rite now. Their package has bin reduced to ash’z by the brown paid Union guys coz of negotiating or sideing with RB on this. Zamtel employees will suffer the waste pruning zambia has ever seen
# 2 i feel your frustration as a patriotic Zambian regarding giving away of our Telecom infrastructure, and you re not alone. The only way we can reverse this is by voting for Sata who has promised to re nationalise ZAMTEL. The ZAMTEL deal is a rip off by all standards. If the prospective buyers know that ZAMTEL is in debt but they still want to buy it, that should say something to Govt. Yes it is true we Zambians easily accept foolish decisions as long as it does not hurt in the meantime but we forget the longterm and the generation to come
It’s common knowledge that Gaddafi will take the day. Thats why RB went to Libya before the bids begun!!! Bafuna kudya bonse. Only thing is will Sata/HH (hmm, maybe not him) reverse this? maybe to 49%.
selfish politicians that stops at nothing but to keep reaping were they did not sow. How stupid is that, within a year the profit would be made, to their benefits, what about the poor zambians. let MMD chief bootilicker and others comment on important issues like this. Shagging and having children out of wedlock issues is not what will put food on the plate of most zambians.How come it is just pa zed. For once why not listen to masses, let investors come in to the the benefits of our people,give them decent wages, provide equipments, machinery, medicines in hospital, eradicate corruption to awarding tender of roads procurements. Serve the people you have a mandate with, not enriching yourselves only. What a shame, as most of this people in governments are our relatives or tribesmen.
No, comment, just cry for the beloved country. Change or Die Zambia?
the story will be sad for the Zamtel workers. let us hope for the best since it looks like our Govt wont relent
Why should Libya be allowed to invest in Zambia? What are we Zambians going too? Of all investors, we go to Libya to invest in our country?? Am suddened by this…..personally i dont like this Gadaffi guy and his ideologies to start with. Secondly, Zamtel should have been left to Zambians by floating the shares on the stock exchange and leave it to operate under to the public but under a private law (ppp). This Gaddafi thing is thw worst thing to happen to Zambia.
Honestly, this is just too crazy… Gaddafi a partner with our govt, in this day and age. Does anyone remember the fiasco with Saddam Hussein where we even changed Addis Ababa drive to Saddam Hussein boulevard? As the saying goes, those who don’t learn from their mistakes are bound to repeat them… shameful!
Kaddaffi wants to rule AFRICA. Business or not we must not let him!