Libyans Plan Continent's Largest Telecoms Group

Telecoms

LapGreen Networks, a subsidiary of Libyan African Investment Portfolio, plans to build 'the biggest' telecommunications company with a single network in Africa. "LapGreen plans to build a big telecoms company in Africa and this company will be built by African skills," the managing director of LapGreen Networks and Uganda Telecom, Eng. Abdulbaset Elazzabi last week told East African Business Week in an exclusive interview in Kigali.

He said this will be realized by expanding their network from one country to another. "As you see, to build a network, we are expanding our network daily from country to country. By 2010/11, we will be one network from East to West Africa and this network will be built by Africans, bringing African countries together as one country," he said.

Elazzabi, who also serves as the chairman of Rwandatel, a telecoms company in which LapGreen owns 80% stake valued at US$100million, was in Rwanda to mark the company's launching of GSM and 3G networks. LapGreen Networks, valued at US$500million, is owned 100% by the US$5billion Libyan African Investment, an investment arm of the Libyan government.

It is managed by Eng. Abdulbaset Elazzabi, Bashir Saleh Bashir serves as board chairman and Dr. Ali Shamakh, chairman of Tamoil Africa is a board member. LapGreen which specializes in telecommunications has operations in Uganda, Togo, Niger, Rwanda, Ivory Coast and Gabon.

East African Business Week