Kariningufu to move to another operation

Rwandatel’s Chief Executive Officer Patrick Kariningufu is set to be moved to another LAP Green operation, Business Times has learnt.

Sources that availed this information on condition of anonymity said that Kariningufu had not been sacked, contrary to rumours, but the Sino-Libyian company moved him to a different operation as the new Strategic Operations Manager for the Regional LAP Green Headquarters, in Uganda.

According to the source Hamidou Isiaka from Niger is set to takeover as Rwandatel’s new CEO and a handover ceremony will be held soon. 

Kariningufu confirmed the development yesterday and added that there have been changes at the LAP Group level.

"Management changes have been made on the group level and they will be communicated to the public before the end of the week,” Kariningufu said.

The outgoing CEO has been at the helm of the company as the top boss since the company was known by its Terracom brand and later acquired by the Libyan LAP Green portfolio. He oversaw the company’s migration from the traditional CDMA technology to GSM, a move that increased the company’s subscriber base from about 90,000 to 200,000 in just three months.

Rwandatel is one of the five African telcom companies owned by LAP Green Networks which is owned 100 percent by Libyan African Investment Portfolio. Others include Uganda Telecom (UTL), Sonitel Niger, Sahel Com Niger and Oricel Green in Cote d’ivoire

The company has more than 60 percent in the Niger operations and 62 percent in Uganda.

Rwandatel is co-owned by National Social Security Fund with a 20 percent stake.

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