New hope as Utl outs first package in a year
Posted Monday, June 4 2012 at 00:00
After being forced into nearly 12-months of silence, Uganda Telecom is slowly getting back to business after it last week announced the launch of a new package in over a year.
Although it is too early to judge how the new service will fair on the highly competitive market, the launch of USwitch signals the company’s commitment seeking to regain normal operations.
Mr Stanley Henning, Utl managing director, said last week the launch of USwitch is a clear message to all skeptics who have been spreading speculation and rooting for the company’s closure, that the company would stay on and continue serving its clientele.
USwitch allows customers to have unlimited calls to numbers within the Utl family for Shs750 all day.
Early last year the UN, under resolution 1973 froze Libya’s global assets as it sought to cut financing to the Libyan regime that was determined to suppress a civil uprising challenging Gaddafi’s 40-year hold on power.
The sanction, however, crippled the operations of a number of investments, suffocating channels of funding to run such company’s operations, among them Utl. However, early this year the UN lifted the sanctions allowing Libya’s revolutionary government to take full control of the country’s global investments.
The lifting of the sanctions has given a number of companies a lifeline, including Utl, which recently announced a Shs500 billion recapitalisation. the board’s resumption of the company’s management duties.
The board announced that the company had secured about $200 million, which could assist to restore Uganda Telecom’s normal operation.