Libyan Post, Telecommunications and Information Technology Company (LPTIC) has consolidated several Libyan shareholdings in telecommunication companies in sub-Saharan Africa
The consolidation of the African telecommunications assets portfolio involves the aggregation of holdings in mobile and fixed-line operating companies in Cote d’Ivoire, South Sudan and Uganda which were previously managed by LAP Green.
The LPTIC management team will now focus on securing, optimising and transforming the broader African asset portfolio, drawing on its skills and expertise to bring benefits to its new assets. The African assets will be able to gain from LPTIC’s extensive knowledge transfer capabilities, the provision of critical skills as well as develop local talent, which will help the assets to build capacity in each respective country.
This restructuring also expands LPTIC’s international footprint as it extends operations into West and East Africa. The assets were previously managed as part of the much wider investment portfolio of the Libyan Investment Authority (LIA).
Hassan Bouhadi, chairman of LIA, said, “We believe that LPTIC is best qualified to manage the transformation of Libya’s telecommunications assets in Africa, and I have every confidence in the team’s ability to realise value for all stakeholders and in particular the Libyan people.”
The integration of the African telecommunications assets, under LPTIC management, provides LPTIC with access to new, rapidly developing, high growth markets. It also provides a platform from which it can leverage its technical expertise to enhance services as well as enable the assets to reach their full potential, and in turn play a role in supporting economic development in those countries.
Faisal Gergab, chairman of LPTIC, said, “We see this as an important opportunity to optimise these exciting African assets and work together with our new stakeholders to capitalise on the opportunity before us, by providing important services, skills and technology transfer.”
