Rwandan Government Looking to Sell Stake in MTN Rwanda

Published on: 1st Jan 1970: 1:33am

­The Rwandan government is reported to be planning a stock market floatation of its stake in MTN Rwanda later this year. The country has only just opened a stock exchange, and the government is seen to be keen on boosting the viability of the exchange by selling stakes in companies it owns.

"We are still in the process of discussing with MTN South Africa; we have 10 percent of government shares and there is also another investor that also wants to divest from this company so we all might have 45 percent shares from MTN coming on the market soon this year," John Rwangombwa, the Finance Minister told the press at the launch of the Rwanda Stock Exchange.

The country currently has three mobile networks, and the Mobile World analysts estimate their market shares at: MTN (53%); Rwandatel (33%) and Tigo (14%)

The stock exchanged opened for business this week, with the IPO of a local brewer. The Bank of Kigali is expected to float its shares later this year, while the government is expected to sell its stakes in the Commercial Bank of Rwanda (BCR), insurer Sonarwa, and cement maker-Cimerwa.

On the web: The New Times - The Mobile World

 

Tags: [mtn]  [rwandatel]  [tigo]  [kigali]  [planning]  [Rwanda]