LAP Green, Huawei ink settlement agreement

1 Jul 2013

LAP Green Network has announced that has concluded a definitive group-wide settlement agreement with China’s Huawei, its principal supplier of network equipment in Africa. Over the last two years, as part of its restructuring programme, LAP Green’s new management team has entered into negotiations with various suppliers in an effort to resolve outstanding issues prompted by the fall-out from the UN’s imposition of international sanctions on Libya. Following a year of negotiations between the two parties regarding outstanding amounts owed for equipment and services supplied, LAP Green and Huawei have now reached conclusive terms on a commercial settlement agreement. Huawei is LAP Green’s largest and longest-standing equipment supplier across the continent, with a relationship dating back to 2007.

Wafik Al Shater, chairman and CEO of LAP Green, commented: ‘It is a step in the right direction in our restructuring plan and will help us rebuild the company to become a world-class Africa-based telecoms provider’. Going forward, Al Shater notes that the company hopes to initiate discussions with Huawei over its Long Term Evolution (LTE) roadmap.

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