Maravi

(LUSAKATIMES) Zamtel is under threat- Harrington

Zamtel is under threat- Harrington
Tuesday, March 22, 2011, 8:25

Former Communications and Transport Minister in Second Republican President Fredrick Chiluba’s government William Harrington has said Zamtel now owned by Libya’s Lap Green is under threat following the sanctioned imposed on Libya.

Mr. Harrington said following the economic sanctions being imposed on Libya’s government which has affected Libya’s investments in other countries, Zamtel is also at risk of collapse.

He said that it was important for government to start working out a plan to ensure that the company does not crumble should the effects of the sanctions extend to Zambia.

He said the company has a number of Zambians in its workforce whose jobs are threatened.

Mr. Harrington has also backed former republican vice President Enock Kavindele’s call on government to start mobilising local investors and individuals to take over Zamtel in case economic sanctions on Libya incapacitate its operations.

Lap Green Networks owns 75 per cent of Zamtel after buying the country’s sole fixed line operator at US $257 million in a controversial deal.

LAP Green Network is a component of the Libya-Africa Investment Portfolio, which is part of the Libyan Investment Authority, the sovereign wealth fund for Libya.

QFM

Labels: LAP GREEN, PRIVATISATION, WILLIAM HARRINGTON, ZAMTEL

posted by MrK @ 11:29 AM