Rwanda enters the Libyan portfolio

In her quest for continental coverage, a Libyan firm has taken over a number of companies all over the continent through takeovers, mergers and acquisitions. Following its recent takeover of Uganda Telecom, Mali’s Sahelcom, has successfully bought off Rwandatel.  

The deal, which clearly appears to be more of a pan-African conquest than mere business transaction, is symbolic of Libya’s commitment to one African economic and political block. Lap Green the bid winner is owned by the Libyan Africa Investments Portfolio for Africa, a consortium set up to reorganize the interests of the Libyan government on the continent. 

The company plans to operate a borderless network between Rwandatel and Uganda’s UTL. Such a move if achieved will symbolize yet another regional communication milestone not too different from MTN Rwandacell’s recent pact with Safaricom and MTN Uganda. 

The Rwandan government said in a statement that the new owner of Rwandatel will have to meet certain objectives outlined in the country’s Vision 2020 as a strategic investor with the capacity to improve the quality of services and meet the increasing expectations of the telecommunications market in Rwanda.”

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: