Rwandan government to buy back telco

27 Jul 2007

RNA reports that the Rwandan cabinet has decided to buy back the country’s telco from entrepreneur Greg Wyler. In 2003 Wyler bought 99% of shares in Rwandatel – which at the time had approximately 25,000 customers – for USD20 million. The company has been trading as Terracom Communications since 2003. In recent months however the Rwandan government has grown increasingly frustrated with the lack of progress made by the operator. Last June, the government fined TERRACOM nearly USD400,000 for failing to comply with its licensing obligations, failing to provide information about its operations and failing to pay several fees.

Rwanda, Rwandatel