Exclusive: LPTIC Suspends Contract with Cell Libya, Describes It as Unfair After Causing Losses of 400 Million Dinars

Our source has exclusively obtained a letter from the Chairman of the Board of the Libyan LPTIC Holding Company, in which he instructed its subsidiaries — Almadar, Libyana, and LTT — to suspend the contract with Cell Libya across all affiliated companies without delay. This decision came after discovering that the contract’s terms were significantly unfair, as the commission rate had increased from 5%–7% to an inflated average of 14% without any clear justification. This led to severe financial losses estimated at over 400 million Libyan dinars annually, according to the company’s general assessment of the contract.

Additionally, the supply of credit has been halted, prohibiting the provision of any paper or electronic balance to Cell Libya from any subsidiary. All financial transactions with the company have been frozen, and any of its funds held by the subsidiaries are to be withheld until the investigation concludes.

The letter also called for establishing a new sales framework that allows the sale of paper and electronic credit to any interested party, provided the commission does not exceed 5%. Moreover, 1% of sales will be allocated as an annual incentive within the employee reward program to encourage and motivate staff performance.