The assets of Rwandatel, which still operates fixed lines, are set to be sold after the commercial court ruled in favour of Registrar General’s request that the operator be liquidated as it could not be able to pay off creditors because it is technically bankrupt.
According to Richard Mugisha, the administrator to Rwandatel, the bidding process that is to kick off in one week’s time is likely to attract telecom companies that are already in the industry.
“I don’t mind how many bidders will come, what I am interested in is to raise enough funds for creditors,” he told Business Times last week.
Rwandatel assets that are worth US$50m are to be sold off to finance payment of the operator’s debt which stands at US$88.9m.
Mugisha added that although Airtel was not awarded the license to operate fixed telephony business, it may be much interested in Rwandatel’s assets.
Rwanda Utilities Regulatory Agency (RURA) awarded Airtel a mobile license as the regulatory pushes to achieve six million mobile subscribers by the end of next month.
Regis Gatarayiha, the Director General of RURA, said that the potential buyer of the assets shall only be entitled to fixed line operator license that Rwandatel holds.
“There is no mobile license to be attached to the sale of Rwandatel, unless they are purchased by one of the three mobile operators of course,” he said.
Efforts to reach Airtel for a coThe industry’s regulator revoked mobile license from Rwandatel after the former failed to comply with its license obligations, leaving the industry with only two players—MTN Rwanda and Tigo Rwanda.