Libya Business News
Wednesday, May 25, 2022
  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos
No Result
View All Result
Libya Business News
  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos
Libya Business News
No Result
View All Result
Home Communications

LAP GreenN’s Fall from Grace was Utterly Avoidable

11th March 2016
in Communications, Investment
LAP GreenN and Ivorian Gov't reach Agreement
Share on FacebookShare on Twitter

From Sami Redwan. 

Any opinions expressed are those of the author, and do not necessarily reflect the views of Libya Business News.

The telecoms provider LAP GreenN’s fall from grace has been nothing short of spectacular.

Established in 2007 with a total investment capital of over US$1 billion, LAP GreenN is wholly owned by the Libya Africa Investment Portfolio (LAIP), the African investment arm of the Libyan Investment Authority (LIA).

With coverage spanning from Sierra Leone to South Sudan, its expansion across the continent seemed inevitable, and the company was set to become the darling of the African telecoms industry.

But by the end of 2014, LAP GreenN only had a few million dollars left to its name. A year later, its debts had spiralled to US$425 million.

What are the reasons behind this sharp reversal in fortunes? A recent piece in Libya Al Mostakbal offered some timely insights into the company’s collapse, and our report below has been compiled with information from several sources within both the LIA and LAP GreenN.

In short, LAP GreenN was the engineer of its own downfall. Key factors contributing to its demise included a poor hiring strategy, incompetent internal management and high-profile disputes with partners, the most notable of which was the nationalisation of Zamtel (75% owned by LAP GreenN) by the Zambian government in 2012.

Page 1 of 4
12...4Next
Tags: DeloittefeaturedLAP GreenNLibyan African Investment PortfolioLibyan Investment Authority (LIA)Libyan Post Telecommunication and Information Technology Holding Company (LPTIC)MaltaOliver WymanSierra LeoneSouth SudanUgandaZambiaZamtel

Latest News

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

4th October 2021
Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

22nd March 2021
Latest Oil Tenders

Latest Oil Tenders

16th March 2021

Recent News

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

4th October 2021
Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

22nd March 2021

Categories

  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos

Menu

  • Home
  • About Us
  • Contact

Join our mailing list!

Sign-up to receive email updates on the latest news and developments.





© 2021 Libya Business News - Your Libyan business news partner

No Result
View All Result
  • Security
  • Oil & Gas
  • Banking & Finance
  • Politics
  • Industry & Trade
  • Construction & Engineering
  • Investment
  • Tenders
  • Transportation
  • Videos
  • Contact Us

© 2021 Libya Business News - Your Libyan business news partner

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “I Agree”, you consent to the use of ALL the cookies.