Axian telecom Chair, Hiridjee tightens grip on Jumia as tower dispute unfolds in Uganda
- Hassanein Hiridjee's TowerCo of Africa is involved in a shareholder dispute in Uganda.
- TowerCo of Africa is accused of orchestrating a fraudulent takeover of Ubuntu Towers.
- The case includes allegations of undervaluation, shareholder oppression, and injunctions on share transfers.
The ongoing disputes surrounding Hiridjee's companies underscore the complexities of local versus foreign control in Africa's digital landscape. While local initiatives like Ubuntu Towers aim to empower domestic players, the potential consolidation of power by foreign-backed entities raises concerns about the sustainability of African startups and their ability to compete.
