Rwanda: MTN renews licence in Rwanda
August 5th 2021
MTN Group has confirmed the renewal of its operating licence in Rwanda with effect from 1 July 2021. MTN Rwanda has paid 70% of the RWF91 billion (USD75.7 million) renewal fee, equivalent to around RWF64 billion, with the remaining 30% due by July 2022. The new concession is valid for ten years. The parent group said that the licence fee, along with MTN Rwanda’s ongoing operational and investment requirements, were funded by cash generated from operations and supplementary funding from local banks. New Times reports that MTN Rwanda has secured a RWF64 billion syndicated loan from a group of ten banks.
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