Formation of Joint Technical Committee for Libyan Investments in Uganda

The Prime Minister formed a nine-member technical committee to travel to Uganda from July 30, 2022 for one week. The committee will assess difficulties facing the Libyan Foreign Bank and Islamic Call Society operations in Uganda and review the status of Libyan investments there.

This decision signals active Libyan government attention to troubled state-owned foreign investments, particularly banking operations. Foreign investors should note that Libya's Government of National Unity is attempting to reassert control over overseas state assets despite domestic instability. The involvement of multiple ministries and state entities suggests coordination challenges. The one-week timeframe indicates urgency around specific operational or financial problems in Uganda that may reflect broader issues with Libya's foreign investment portfolio.