
Uganda expects Rowad Capital Commercial LLC to invest an initial $225 million in its state-run telecommunications operator and take up a majority stake once ongoing talks are concluded – according to Bloomberg.
Dubai-based RCC will acquire 60% shareholding in Uganda Telecommunication Corp., or UTel, according to Aminah Zawedde, permanent secretary in the information communication technology ministry.
Negotiations started early this year after officials from RCC met Uganda’s President Yoweri Museveni in October. UTel is owned by the finance and ICT ministries and took over the assets of Uganda Telecom Ltd. in November 2022, which had been under receivership.
Also Read: Dubai’s DP World Wins $2 Billion Extension For Maputo Port
Uganda requires telecommunication providers operating in the nation to list on its stock exchange. Bigger operators MTN Uganda Ltd. and Airtel Uganda Ltd. have already offered some shares on the bourse.
UTel, which was issued a national telecommunications operator license in January, has two years within which to list at least 20% of its shares, according to Fred Otunnu, director of corporate affairs at Uganda Communications Commission.
That timeframe will, however, depend on the company’s fulfilment of listing requirements, he said.
I know this website gives quality dependent posts and extra material, is there any other website
which provides these information in quality?
Check out my site nordvpn coupons inspiresensation (92url.com)
350fairfax nordvpn promotion
A fascinating discussion is worth comment. I believe that you
ought to publish more about this subject matter, it may not be a taboo matter but usually people don’t discuss such issues.
To the next! Many thanks!!