Rwandan mobile operator MTN Rwanda has secured a RWF10 billion (USD17.8 million) syndicated loan from seven local banks to upgrade its wireless network, the New Times reports. Led by the Commercial Bank of Rwanda (BCR) the loan is reportedly the largest commercial transaction by a group of local lenders in Rwanda. The operator’s CEO, Khaled Mikkawi, said the money forms part of the USD100 million that MTN plans to invest in the market this year alone. The company is spending the money on new infrastructure and the expansion of its sales outlets across the country as competition in Rwanda’s mobile market strengthens. As reported by CommsUpdate earlier this week, a third cellco, Luxembourg-based Millicom International Cellular (MIC), has just launched operations in Rwanda’s mobile market under the Tigo banner.
Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.
Filter CommsUpdate by the following categories or use the search.
Visit our help page information on performing advanced searches, including how to restrict the results by country or company.
CommsUpdate is an outstanding advertising venue for companies seeking to reach:
- International carriers
- Wholesale service providers
- Equipment and software vendors
- Telecom investors