Grace Ashiru
Uganda is poised to receive a significant investment from Rowad Capital Commercial (RCC) LLC, a global engineering and construction contractor. The company plans to inject $225 million into Uganda Telecommunication Corp. (UTel), the state-run telecom company, and will acquire a majority stake. Based in Dubai, RCC will secure a 60% share in UTel once the deal is finalized.
Aminah Zawedde, Uganda’s ICT head, announced this development, though she did not clarify whether the investment amount includes the purchase price for the stake. According to Bloomberg, negotiations have been in progress since early this year, following a meeting between RCC officials and President Yoweri Museveni in October 2023.
Uganda Telecommunications Corporation Limited (UTCL), also known as UTel, was established as Uganda’s national telecom provider on April 8, 2021. This development occurred after UTel took over the assets and operations of Uganda Telecom Limited (UTL) in November 2022. UTL had been facing significant financial difficulties and was subsequently placed under receivership.
UTel is currently owned by Uganda’s Ministry of Finance and Ministry of ICT. According to the country’s regulations, telecom companies are required to list on Uganda’s stock exchange. Prominent players like MTN Uganda and Airtel Uganda have already complied with this requirement.
UTel has until January 2026 to list at least 20% of its shares, though this timeline may be adjusted depending on how quickly the company meets the necessary listing requirements, as noted by Fred Otunnu of the Uganda Communications Commission.
Have you ever pondered whether it’s possible to thrive in your career while also enjoying a fulfilling personal life? Donald has. He firmly believes that work should not only be financially rewarding and conducive to career advancement but should never come at the expense of personal relationships.
This conviction stems from his experiences, particularly a childhood where he witnessed the damaging impact of isolation on family members. As he’s grown, Donald has realized that maintaining relationships outside of work is just as vital as achieving professional success.
Have you ever questioned whether it’s possible to excel at work while maintaining a fulfilling personal life? Donald certainly has. He firmly believes that work should not only be financially rewarding and offer opportunities for career growth but should also never come at the expense of personal relationships.
This belief is deeply rooted in his experiences, shaped by a childhood where he witnessed the detrimental effects of isolation on his family members. As an adult, he’s come to understand that nurturing relationships outside of work is just as vital as achieving professional success.
Donald’s approach to work has evolved significantly over time. He once worked for a boss who was always on the clock, a challenging experience that taught him valuable lessons and clarified his own career aspirations. Through this, he realized that balancing work and personal life is more complicated than it appears, and that some sacrifices are unavoidable.
His journey also includes a major career shift. Initially uncertain about his path after graduation, Donald used his administrative skills to secure his first job. This role allowed him to express his true talents, laying the foundation for his future career growth.
