Telecommunications company Liquid Telecom over the weekend concluded the purchase of embattled Rwandatel’s assets and businesses. Liquid Telecom is a subsidiary of South Africa-based Econet Wireless Group.
Liquid Telecom revealed that the purchasing of assets will assist them in expanding further into Africa, as they already operate in several countries across the continent, as well as in Europe, South America and the East Asia Pacific.
“This is a good outcome for the creditors and the telecommunications sector. Liquid Telecom is a strong player in the Industry, with a clear vision for the future of Rwandatel and the price received was the highest offered by any of the interested parties,” said Richard Mugisha, Rwandatel’s insolvency administrator. Rwandatel’s assets included its copper and fibre network.
Liquid Telecom added that the sale will allow them to expand and provide better services. “Liquid Telecom is delighted that the sale has been finalized as this will immediately result in significant further investment in the network. We have additional investment of $20 million (about Rwf19 billion) for the next one year; this is money we have right now and our priorities are exciting,” said Sam Nkusi, chairman of Liquid Telecom.
“Our priority is to quickly rehabilitate the core network and to build out the access network in order to serve Rwanda’s enterprises and residences with the most reliable, high speed, and affordable telecommunications. Current customers must be assured of service continuity and future improvements in their network availability and performance,” he added.
Charlie Fripp – Consumer Tech editor