ENTEBBE, Uganda (UG Standard) — Uganda Telecommunications Corporation Limited (UTCL) has secured a major investment boost after signing a landmark agreement with Dubai-based Rowad Capital Commercial (RCC).
The deal, witnessed by President Yoweri Kaguta Museveni at State House on Friday, aims to revamp and rejuvenate UTCL, enabling it to provide quality services to Ugandans and beyond.
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“We are eager to create jobs and wealth for our people,” President Museveni said. “This partnership will help achieve that goal.”
Minister of ICT and National Guidance, Dr. Chris Baryomunsi, praised President Museveni’s unwavering support for UTCL’s revival. “The President’s personal involvement has been instrumental in securing this partnership,” Dr. Baryomunsi noted.
Dr. Baryomunsi assured RCC of the government’s full support, saying, “We will provide all necessary assistance to ensure UTCL’s growth and success.”
RCC’s CEO, Mr. Chaher Al Taki, expressed gratitude and pledged to explore additional investments in Uganda. “Uganda is our second home, and we look forward to investing in more projects,” he said.
RCC’s Chairman, Mr. Kantu Moses, thanked President Museveni, First Lady and Minister of Education and Sports, Maama Janet Museveni, and other stakeholders for their support.
Minister of State for Finance, Planning and Economic Development, Hon. Henry Musasizi, and Minister of State for Investment and Privatisation, Hon. Evelyn Anite, attended the signing ceremony.
The partnership marks a significant step towards revitalizing Uganda’s telecommunications sector, promising new opportunities for Ugandans.
