Bankrupt: Broke Vodafone Placed Under Administration
Counsel Nyakairu Appointed Vodafone Administrator
Nyakairu was appointed by the High Court.
Counsel Nyakairu, a partner with ENSafrica law firm, will be administrator for 90 days.
WHAT NYAKAIRU’S VODAFONE ADMINISTRATION ROLE ENTAILS
Nyakairu will lead a probe into the telecom operator’s accounts.
The resultant will be the a decision on whether to close shop or stay in business.
Vodafone had a bad 2017, closing some branches and laying off some staff.
The British firm could end its business in Uganda if Nyakairu recommends so.
Nyakairu is set to meet Vodafone Uganda’s creditors on March 01, 2018.
Vodafone opened in Uganda in 2014 but is yet to break even.