Rwanda to float shares in MTN

16 Jun 2009

The government of Rwanda is planning to sell its 10% stake in mobile operator MTN Rwanda on the country’s bourse during the next financial year, according to Rwandan daily The New Times. ‘We intend to offload these shares through the capital market,’ the country’s finance minister James Musoni said after presenting the 2009/10 budget. According to TeleGeography’s GlobalComms database, the cellco’s other shareholders are the MTN Group, which increased its interest in the Rwandan unit from 40% to 55% for USD40.5 million in March 2008, and Tristar Investments with a 35% stake.

Rwanda, MTN Rwanda