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 Ugandan government seized in a controversial move.
Joseph Mayton
