Millicom to invest USD80m in Tigo

11 Jun 2013

Millicom’s CEO Holger Albrecht has announced that the Luxembourg-based group is planning to invest USD80 million in Rwanda’s second largest cellco in terms of subscribers Millicom Rwanda (Tigo) throughout the next five years, after a meeting with the country’s president Paul Kagame, the President’s Office reported. Mr Albrecht said after the meeting: ‘We are happy doing business in Rwanda and we would like to make more investments and take advantage of the favourable investment environment.’

According to TeleGeography’s GlobalComms Database, the country’s wireless subscriber base reached 6.04 million at 31 March 2013, up from 5.69 million at the end of 2012. MTN remains the market leader with 3.45 million subscribers, followed by Tigo with 1.81 million users.

Rwanda, Millicom International Cellular (MIC), MTN Rwanda, Tigo Rwanda (now part of Airtel Rwanda)