MERGERS, ACQUISITIONS AND FINANCIAL RESULTS

Uganda: Looming Job Cuts in data Firm's Restructuring

A number of jobs have been affected at the BroadBand Company as the firm moves to restructure its operations. The move, which will include merging, creation and elimination of some positions, is in line with the Internet service providers' objectives as it refocuses its business this year.

The affected, according to a source that preferred anonymity, include senior managers, field officers and other junior staff. Rodney Rudman, the firm's Chief Executive Officer, said in a press notice that the company had notified the Ministry of Labour in regard to the exercise and the board had already approved the changes. He said:"We are keen on completing the exercise fairly, sensitively and in line with the labour laws of Uganda."

The firm, which entered Uganda's business space in 2008, has seen stiff competition from other internet providers including; Africa online, Infocom, new entrants Foris Telecom and a shift by telecom firms eyeing to tap into Uganda's data industry.

BroadBand is owned by PME Africa Infrastructure Opportunities - a London equity fund, with majority shareholding and a consortium of local businessmen.

Source: The Citizen

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