Rwandatel deal sealed

The government has finally signed a sale deal of its 80 percent shares in Rwandatel, a local telecom company to Lap Green Networks. Finance Minister James Musoni signed on behalf of the government while Eng. Abdulbaset Elazzabi represented Lap Green Networks, a Libyan company. The signing took place yesterday at the Finance Ministry headquarters in Kigali, paving way for Lap Green to make part payment of $50m. Another $50m will be paid in two installments of $25m within two years.
Musoni (L) and Abdulbaset exchange documents after signing the Rwandatel deal yesterday at Finance Ministry offices.
Musoni (L) and Abdulbaset exchange documents after signing the Rwandatel deal yesterday at Finance Ministry offices.

The government has finally signed a sale deal of its 80 percent shares in Rwandatel, a local telecom company to Lap Green Networks. Finance Minister James Musoni signed on behalf of the government while Eng. Abdulbaset Elazzabi represented Lap Green Networks, a Libyan company. The signing took place yesterday at the Finance Ministry headquarters in Kigali, paving way for Lap Green to make part payment of $50m. Another $50m will be paid in two installments of $25m within two years.

Although the signing ceremony appeared to be the end of bidding process, Elazzabi who is the managing director of Lap Green Network deemed it as the starting point of hard work.

“This is actually the beginning of hard work to ensure the rollout of a telecommunication network that will cover the entire nation with a mix of value added services” Elazzabi said.
They (Lapgreen network) promised to work hand in hand with the government to transform the whole nation to Information and Communication Technology (ICT) hub in Africa.
(See related story on page 8)

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