With the world’s stepping up military pressure on Libyan leader Muammar Gaddafi and economic sanctions in place, the country’s telecommunications sector is facing an uphill battle to maintain operations as civil war has taken hold of the country.
The country’s telecommunications company is worried that the unrest is threatening its investments in Libya and abroad.
“Certainly this is a cause for concern for the country and for the region, where it has a number of assets and investments that they are unable to deal with at the present moment,” Egyptian securities analyst Heba Mansour said. She argued that although right now the situation looks detrimental, she compared it to the Egyptian aftermath after its own revolution and the optimism that has created.
“We saw the telecom companies here in Egypt lose a lot of money during the protest movement, but now that the country is moving forward, investment has never been so positive, with a number of international companies looking to get involved. The same can happen in Libya,” she added.
Libya’s telecom company has been a major player on the continent and under its LAP Green brand, has become a pan-African mobile operator with presences in Zambia, Uganda, Niger and the Ivory Coast.
However, many of those contracts are under threat as the violence continues. The LAP Green brand is struggling to make ends meet throughout this turbulent time and a number of regulators have been looking at alternatives if Libya cannot pull through the tension in a timely fashion.
By Jonathan Terry