The U.N. sanctions paralyzed the company's normal operations. Analysts predicted a collapse of the company or a takeover as it was weighed down by especially interconnection debt when its assets were frozen, but it survived, helped partly by its sheer size and historical position.

Uganda Telecom was once part of Uganda Posts and Telecommunications, the state monopoly that was split into two to create the new company when the telecom sector was deregulated. The company, which operates a 3G network, stayed afloat leveraging some of its core businesses, especially wide area bandwidth on data gateways, Internet service provision as well as a mobile money transfer service.

Al-Shater said reinstatement of the board at Uganda Telecom represents yet another step forward for LAP Green in the restoration of the group's fixed and mobile telecoms assets across Africa. He said LAP Green over the past few months has developed a good understanding of what is required to restore its assets across Africa.

"In addition to Uganda we are driving positive change in Ivory Coast (Oricel) and South Sudan (Gemtel)," he said. "We are also evaluating our options in other territories where we have licenses."

Al-Shater said LAP Green has put in place a team of telecom professionals who are leading the company as part of its rebuilding work and promised to recruit and expand the team with talented individuals.