Dubai-based Company to Invest $225M in Uganda’s UTel

In a deal estimated at $225 million, Dubai-based RCC LLC is poised for an investment in Uganda Telecommunication Corporation, hence driving transformation in the East African nation’s telecommunication sector.

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According to Aminah Zawedde, Uganda’s ICT minister, the investment that RCC will make will be significant

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Uganda Telecommunications Corporation Limited, commonly called UTel, was incorporated on 8 April 2021 as the national telecom operator.

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Preliminary discussions between RCC and Ugandan officials began in early 2024. However, a critical meeting between RCC representatives and President Yoweri Museveni took place in October 2023.

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The regulations in Uganda stipulate that all telecommunication companies must be listed on the Uganda Securities Exchange.

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