Uganda Signs Deal with RCC to Revitalize Telecommunications Sector
On October 25, 2024, Uganda’s government signed an agreement with Dubai-based Rowad Capital Commercial (RCC) to revitalize Uganda Telecommunications Corporation Limited (UTCL). The signing ceremony, attended by President Yoweri Museveni, aimed to position UTCL as a key player in regional telecommunications and drive job creation through foreign investment.
President Yoweri Museveni, Minister of ICT and National Guidance, Dr. Chris Baryomunsi, and the other officials at State House Entebbe
The Government of Uganda signed an agreement with Dubai-based Rowad Capital Commercial (RCC) to revitalize Uganda Telecommunications Corporation Limited (UTCL). This is aimed at transforming the company into a key player in regional telecommunications.
The signing ceremony, held on October 25, 2024, at State House Entebbe, was witnessed by President Yoweri Museveni, who praised the partnership as part of a broader strategy to drive job creation and economic growth through foreign investment.
Dr. Chris Baryomunsi witnessing the signing of the agreement between Uganda and Dubai-based Rowad Capital Commercial (RCC)
“Our main interest is to get investors to create wealth and jobs,” President Museveni stated, underscoring the importance of private investment in Uganda’s telecommunications sector.
The agreement was signed by Uganda’s Minister of ICT and National Guidance, Dr. Chris Baryomunsi, who expressed gratitude for the President’s commitment to reviving UTCL. “I would like to express my appreciation to our President, who has worked hard to see that we bring new life to UTCL,” Dr. Baryomunsi said, adding that he would extend full support to RCC as they work to develop UTCL into a strong telecommunications entity.
President Museveni addressing his guests at State House Entebbe
RCC’s CEO, Mr. Chaher Al Taki, voiced excitement for the partnership, pledging to invest in additional projects within Uganda. “Uganda is our second home, and we can invest in more projects here as we had promised,” he said. RCC Chairman Mr. Kantu Moses thanked President Museveni and key stakeholders, including First Lady Janet Museveni and Minister of State for Investment Hon. Evelyn Anite, for their support in making the project a reality.
The event was also attended by Henry Musasizi, Minister of State for Finance, Planning, and Economic Development, marking a milestone in Uganda’s quest to strengthen its telecommunications sector and attract foreign investment.
