MIC secures third mobile licence

17 Nov 2008

Millicom International Cellular (MIC) has announced that it was won the race for Rwanda’s third national mobile licence, seeing off the challenge from three other bidders. The Luxembourg-incorporated company said in a press release that it will hold 87.5% of a newly created joint venture company with local outfit Marathon Corporation. The cost of the concession is USD60 million and is for 15 years. Commenting on the victory, Marc Beuls, President and CEO of Millicom said, ‘We are very pleased to have been awarded the third mobile licence in Rwanda. It is a country with great potential for mobile telephony as it is a very densely populated country with an extremely low mobile penetration which will enable us to build out a network quickly and economically, and its strategic position between our operations in Tanzania and DRC offers potential operational synergies. Rwanda will become Millicom’s eighth country in Africa and will strengthen our overall position in the continent which, we believe, will be the fastest growing part of Millicom’s business in the coming years.’