As a measure to cut costs at the struggling telecom company, the Finance Ministry has according to sources, taken the decision to fire top bosses at Uganda Telecom who were earning exorbitantly high salaries.The Managing Director Mark Shoebridge and Corporation Secretary David Nambale were early this week given the boot by government. Mark Shoebridge replaced Mr Ali Amir who resigned in February 2015 a position he held for over four months before he left UTL to take up a new opportunity in Vodafone Nigeria as the Executive Head of Operations.
When Chimp reports contacted Mr Nambale David, he inveterated government’s position in regards to his leaving the company. David and Mark Jude Shoebridge were earning about UGX 90m and 150 m gross monthly pay respectively. The duo has always defended their massive salaries citing that they managing a rather complex and “unique” company which is financially crippled.
The government recently placed the telecom company under receivership appointing the head of Uganda Registration Services Bureau Bemanya Twebaze to spearhead the process. In law, receivership is a situation in which an institution or enterprise is held by a receiver—a person “placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights”—especially in cases where a company cannot meet financial obligations or enters bankruptcy.
On February 25th the Government took over the full control of UTL after the Libyan majority shareholder, UCom unilaterally pulled out of the embattled telecom company. In order to protect the company, the Government filed for bankruptcy under the orders of the President Yoweri Museveni through the Investment minister Evelyn Anite.
Uganda Telecom is believed to owe about Ush128 billion ($34.7million) in debts.