Liquid Telecom On 31st May,concluded a transaction to purchase the assets and business of Rwandatel, Rwanda’s fixed line network operator.
This transaction comes only four months after they acquired the East African assets of The Altech Group (JSE code: ALT) including a controlling interest in Kenya Data Networks (KDN).
Mr. Richard Mugisha who is the Insolvency Administrator of Rwandatel (In Liquidation), confirmed that the Rwandatel assets , including the copper and fibre network, have been sold to Liquid Telecom with whom a final agreement has been concluded.
Mr Mugisha added that “This is a good outcome for the creditors and the Telecommunicatons 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.”
Liquid Telecom has built the largest fibre network in Southern, Eastern and Central Africa.
Liquid’s fibre network was the first to cross many country borders and covers some of the most challenging parts of the world where no fixed network has existed before.
It operates as a wholesale carrier throughout Africa as well as an operator in the United Kingdom, South Africa, Kenya, Zambia, Uganda, Lesotho Zimbabwe, and now Rwanda. In November Liquid was named Best African Wholesale Carrier 2012.
Sam Nkusi , Chairman of Liquid Telecom Rwanda and Group Executive East Africa said that “Liquid Telecom is delighted that the sale has been finalised as this will immediately result in significant further investment in the network.
Liquid Telecom Rwanda will now contribute to Rwanda’s ICT4D and Agaciro vision by providing true Broadband services with comparable data speeds as anywhere in the developed world ”
“Our priority is to quickly rehabilitate the core network and to buildout 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.”
Liquid Telecom have assured that new products and value added services will be introduced and that additional network will be built to connect Rwanda to its neighbouring countries.
Liquid’s existing pan-African fibre network runs from Uganda through Kenya and Rwanda down as far as Cape Town on a single thread of fibre which streches over 13,000km.
It is now the largest single fibre network on the African continent. This will allow Rwanda to assume its natural geographic position as the foremost ICT hub in the East African region.
Nic Rudnick Group CEO of Liquid Telecom said, ” This is a very exciting and important
investment for Liquid Telecom and we look forward to providing Rwandans with a modern access network .
Liquid Telecom will transform the fixed line access network in Rwanda and the planned investment will provide ultra-fast broadband and even more reliable voice services across Rwanda.
Rwanda is an outstanding FDI destination and we are very confident in the country’s economic future and growth prospects.”
Work on network improvements and expansion is expected to start within weeks.
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