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The agreement, signed at Uganda's State House in Entebbe, was witnessed by President Yoweri Museveni, who expressed the government’s goal to boost job creation through investment.
The collaboration aims to rejuvenate UTCL, positioning it as a competitive telecom provider both domestically and internationally.
UTCL transformation
UTCL, formerly known as Uganda Telecom Limited (UTL), has faced financial struggles over the past decade. In 2017, the company was nationalised after its main stakeholder, Libya's LAP Green, withdrew, leaving UTL burdened with debts exceeding 500 billion Ugandan shillings.
Attempts to revive UTL continued under several administrators until 2021 when the government formally established UTCL.
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The new entity acquired UTL's assets in 2022, following a lengthy administration process aimed at restoring stability.
During this period, efforts were made to rebrand UTCL to improve its market appeal and make it a viable competitor in Uganda’s telecom industry, which is largely dominated by MTN and Airtel
Dr. Chris Baryomunsi, Uganda’s Minister of ICT and National Guidance, praised President Museveni for his commitment to revitalising UTCL. He expressed optimism that this partnership with RCC is a strategic step to strengthen UTCL’s capacity to deliver quality telecom services.
RCC's CEO, Chaher Al Taki, expressed enthusiasm for the partnership and committed to exploring more investment opportunities in Uganda.
“I am very happy to be here at the State House to meet His Excellency President Museveni and the government officials who have come to bless the signing of the agreement. Uganda is our second home, and we can invest in more projects here as we had promised,” he said.
The Chairman of RCC, Mr. Kantu Moses thanked President Museveni and the First Lady and Minister of Education and Sports, Maama Janet Museveni for their unwavering support.
He also thanked the Minister of State for Investment and Privatisation, Hon. Evelyn Anite and all stakeholders for their support and guidance in ensuring the success of the project.
The event was also attended by the Minister of State for Finance, Planning and Economic Development (General Duties), Hon. Henry Musasizi.