A report by Rwandan newspaper today, says Liquid Telecom, has acquired additional telecommunications assets from a former Rwandan mobile & internet operator under liquidation called Rwandatel. Rwandatel, which is owned 80% by a Lybian company called Lap Green went under liquidation in 2011 and last year sold some its equipment to Bharti Airtel. It appears Liquid is mainly buying the fibre and copper networks, which is it is paying US $4 million for. The deal was concluded over the weekend.
The new Rwandan assets are an addition to what is now considered the largest terrestrial fibre network operated by one company on the continent. In January this year, the Econet Wireless Group owned company acquired East African telecoms assets from JSE listed Altech Group immediately expanding its fibre network’s direct presence in the East African market (Kenya, Uganda and Rwanda), and linking this to existing assets in Southern Africa (Zimbabwe, South Africa, Lesotho, Botswana, Zambia and DRC)
Rwanda has 3 mobile operators in operation: South Africa’s MTN, Millicom’s Tigo and Bharti Airtel. Formerly the state owned fixed line operator, Rwandatel was the second company to be licensed for mobile telephony services in 2006, after MTN. Its liquidation was however ordered in 2011 after the new owners, the Libyan government affiliated Lap Green, reportedly failed to salvage it from enormous debts and improve its services as it had been wished by the Rwandan government.
You can read the full report on the asset acquisition here.
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4 comments
Im just starting to wonder what happens when Masiwa through all these acquisitions get pushed or swallowed ( like that other banker) by share holders!!
Will he run for indigenisation cover or will he be man enough to throw in the towel to business vultures.
What measures is he putting to keep his business a core Zimba venture or it will be a one man show when he is gone everything follows him or fly away to far lands.
Altech already tried that before & he lawyered up real quick[1] & threw money at the problem[2].
E.W.G. is no longer a plucky local co., by any stretch of the definition; it is now very much a Multinational & Masiiwa has the experience that goes with it. He’s been fighting and winning for years (Gvt of Zim, MTN Nigeria, Altech, among other adversaries)
1. http://www.engineeringnews.co.za/article/altecheconet-dispute-heads-for-high-court-2005-08-08
2. http://www.balancingact-africa.com/news/en/issue-no-271/money/econet-buys-safricas/en
Econet Wireless Group (Liquid Telecoms) will end up aquiring the main one SEACOM, EASSy or WACS! 😎
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