Rwandan Government to Sell MTN Stake

The Rwandan government is planning to sell its 10% stake in local mobile network MTN, as part of a program of disposals. Two other companies, Bralirwa (the country's sole brewing company) and Sonarwa (the country's biggest insurance company) are also to be sold.

"It means that the government will trade off its 30 per cent stake in BRALIRWA, its 20 per cent stake in SONARWA and its 10 per cent share of MTN Rwanda," said Finance Minister James Musoni.

He told The EastAfrican that all government shares would be floated on the stock exchange by the end of the year.

MTN Rwanda is 55% owned by South Africa's MTN, with 35% held by the Rwandan based Tristar Investment Group with the government holding the remaining 10%.

According to figures from the Mobile World, at the end of Q1 '09, the operator had 1.3 million at the only other operator, MTN. Rwandatel is the rival operator, while last December, Millicom was granted the country's third mobile license after paying US$60 million for the 15 year license.

On the web: The EastAfrican - Mobile World

Posted to the site on 11th August 2009