More Africa NewsGuinea obtains ADB support to relaunch the incumbent telecom operator

March 3, 2021by myles0

Since the loss of its telecoms independence in 2012, Guinea remains determined to regain it. The country relies on the support of international partners to achieve this.

The President of the Republic of Guinea Alpha Condé said during the Council of Ministers, held on Tuesday February 23, that the country has reached an agreement with the African Development Bank (AfDB) for assistance in the telecommunications sector . This support will contribute, among other things, to the revival of the Société des telecommunications de Guinée (SOTELGUI), the incumbent operator, through the new legal entity which must resume its activities and its assets.

The day after this Council of Ministers, at the opening of the first edition of the Forum for Investments in Guinea which was held until February 26, 2021, the Head of State revealed that Guinea wants to mobilize a total USD 3 billion from investors in partnership with the AfDB and the International Finance Corporation (IFC) to carry out 67 transformative projects in the country.

SOTELGUI, which is part of these transformative projects, officially closed its doors in 2012 due to bankruptcy. Since 2013, several unsuccessful attempts have been made to revive the public company plagued by management problems. Orange, MTN and Cellcom have also taken advantage of this vacant position to strengthen their presence in the country’s telecoms sector. 

Through the relaunch of SOTELGUI, the government wants to once again equip itself with a strategic tool through which the country will be able to enjoy the independence of its communications, meet the growing needs of the populations for quality telecom services, support the transformation digital technology, take advantage of the growing financial benefits of the sector.

Source: Agence Ecofin

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