Uganda Telecommunications Corporation Limited (UTCL) Revitalized Through New Partnership with UAE-Based Rowad Capital Commercia

On Friday, October 25, 2024, Uganda Telecommunications Corporation Limited (UTCL) received a significant boost as the Government of Uganda signed a revitalization agreement with Rowad Capital Commercial (RCC), a Dubai-based investment company. The signing ceremony took place at State House, Entebbe, and was presided over by President Yoweri Kaguta Museveni.

Under this new agreement, the Government of Uganda will partner with RCC to revamp and strengthen UTCL’s operations, aiming to transform it into a robust telecom service provider for Ugandans and international clients alike. The agreement was officially signed on behalf of the government by Dr. Chris Baryomunsi, the Minister of ICT and National Guidance.

President Museveni emphasized that the partnership aligns with the government’s commitment to creating employment opportunities for Ugandans, underscoring the importance of foreign investment in economic growth: “Our main interest is to get investors to create wealth and jobs,” Museveni stated.

Minister Baryomunsi commended President Museveni’s dedication to UTCL’s revival, expressing his gratitude for the President’s commitment to the telecommunications sector. “I would like to express my appreciation to our President Yoweri Museveni, who has worked hard to bring new life to UTCL,” said Dr. Baryomunsi, assuring RCC of full government support to ensure the partnership’s success.

Mr. Chaher Al Taki, CEO and Managing Director of RCC, expressed excitement over the new partnership and pledged to explore additional investment opportunities in Uganda. “Uganda is our second home, and we can invest in more projects here as we had promised,” he noted. Meanwhile, RCC Chairman Mr. Kantu Moses thanked both President Museveni and First Lady Janet Museveni for their unwavering support, alongside Hon. Evelyn Anite, Minister of State for Investment and Privatisation, and other key stakeholders who contributed to the project’s success.

Hon. Henry Musasizi, the Minister of State for Finance, Planning and Economic Development (General Duties), was also present at the event, marking a milestone in Uganda’s efforts to enhance its telecommunications landscape through strategic international partnerships.