Javaid to leave Warid Uganda

Zul Javaid is stepping down as CEO of Warid Telecom Uganda after two years at the helm. Javaid, who leaves at the end of January, says he will be joining a telecom company that operates in the Middle East and East Africa.

Javaid becomes the highest profile executive to leave the Ugandan operator since Indian telco, Essar, took over a 51 per cent stake in the company late last year.

“I made my own decision (to leave) independently, and I can assure you I don’t know who is taking over from me, but I’m sure Essar will be bringing in some of their own management staff,” Javaid told media in Uganda.

Warid Telecom Uganda has added around 1.5million subscribers.

In the middle of November the Essar Group announced it was to acquire a 51 per cent stake in the telecom operations of the Dhabi Group, an investment company led by Abu Dhabi’s royal family. Essar Group was reported to have paid around US$150 million for stakes in Warid Telecom Uganda and Warid Telecom Congo.

The agreement was signed by Sheikh Nahyan Mabarak al Nahyan, chairman of the Dhabi Group, and Prashant Ruia, group chief executive of Essar in Abu Dhabi. The enterprise valuation of the Uganda and Congo operations collectively is estimated at US$318 million. Essar already has a presence in Kenya’s telecom sector through its operation branded ‘Yu’, with the Indian operator looking to strengthen its foothold in the African market.