Libyan firm wins USD 100 mln tender to buy Rwandatel (Libya)The Libyan firm Lap Green Networks has won a USD 100 million tender to buy 80 percent of the shares in Rwandatel. This is more than the USD 25 million Terracom, an American firm which previously managed Rwandatel, was to pay the government for the same company. The company also promises to invest USD 317 million to re-start the telecom sector in the country. The investment will run over a period of over 15 years and see the company inject USD 87 million in the economy during its first year of running Rwandatel. The Social Security Fund of Rwanda has the remaining 20 percent stake in Rwandatel. Communication and Energy State Minister Albert Butare said the government wanted a local company to have a stake in Rwandatel to represent the interests of Rwandans. He said the cabinet awarded Lap Green the 80 percent shares in Rwandatel after it beat other bidders which included telecom giants Vodacom and Celtel. The Libyan firm has promised to operate a border-less network between Uganda’s UTL and Rwandatel. The company has a 69 per cent stake in UTL. Lap Green is owned by Libya Africa Investments Portfolio for Africa, a consortium set up to reorganize the interests of the Libyan government on the continent.
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