Zambia pays loan for Libya’s Lap Green, but Zamtel case continues
Even though the Zambian government has approved a plan to pay back a $103 million loan for Libyan operator Lap Green Networks, the legal battle over the company’s exit from the country is far from over.
Zambia says it intends to pay back the loan, which Lap Green obtained from China-based ZTE for the expansion of Zambia Telecommunication Company (Zamtel) network. In 2010, the previous Zambian government sold Zamtel to Lap Green for $257 million. Critics said the government failed recapitalize the company to make it viable and able to compete with private operators.
The loan was obtained by Lap Green Networks in 2011 from ZTE in order to implement Zambia’s Global System for Mobile Communication (GSM) phase IV and Universal Mobile Telecommunication System (UMTS) projects.
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