The Ugandan government announced on Monday that Libyan assets, including Uganda Telecom (UTL), seized by the government last year as part of United Nations (UN) sanctions on Libya, will be returned.
The government said, in a press statement published by the WallStreet Journal, once UN sanctions against the North African country were lifted in December 2011, “all assets would be returned to the Libyan government in the next few months”.
Implementation started on Monday the foreign ministry told ITNewsAfrica.com over the telephone.
Among the assets set to be returned is a majority stake in UTL, which the government seized in a controversial move after conflict ended due to their profits in recent years.
But, the UN urged all governments to return Libyan assets to assist Libya in moving forward.
(Source: IT News Africa)