On October 25, 2024, the Uganda Telecommunications Corporation Limited (UTCL) received a significant boost following the signing of an agreement between the Government of Uganda and Rowad Capital Commercial (RCC), a Dubai-based company from the United Arab Emirates.
The agreement was formalized in a ceremony attended by President Yoweri Kaguta Museveni at State House, Entebbe.
WATCH VIDEO: Agreement signing between the Government of Uganda and Rowad Capital Commercial a company based in Dubai, UAE.
Under this new partnership, the government will collaborate with RCC to revamp UTCL, enhancing its ability to provide quality telecommunications services to Ugandans and beyond.
The agreement was signed on behalf of the Ugandan government by the Minister of ICT and National Guidance, Dr. Chris Baryomunsi. In his address, President Museveni emphasized the government's commitment to job creation, stating, “Our main interest is to attract investors to create wealth and jobs.”
Dr. Baryomunsi expressed gratitude to President Museveni for his dedication to the revival of UTCL, highlighting the President's passion for the telecommunications sector and his active role in bringing this partnership to fruition. “I appreciate our President for his efforts in breathing new life into UTCL,” he remarked.
The Minister also assured RCC of the government’s support as a reliable partner, aiming to strengthen UTCL as a viable telecommunications entity.
Mr. Chaher Al Taki, CEO and Managing Director of RCC, expressed his excitement over the project’s launch and indicated plans for further investments in Uganda. “I am thrilled to be here at State House to meet His Excellency President Museveni and to see this agreement signed. Uganda is like a second home to us, and we look forward to investing in more projects here,” he stated.
RCC Chairman Mr. Kantu Moses thanked President Museveni and First Lady Janet Museveni for their steadfast support, as well as Minister of State for Investment and Privatisation, Hon. Evelyn Anite, and all stakeholders involved in ensuring the project’s success.
The event was also attended by Hon. Henry Musasizi, the Minister of State for Finance, Planning, and Economic Development (General Duties).
