South Africa’s MTN will support Rwanda’s plan to list mobile operator MTN Rwanda, according to local media The New Times.
The government reportedly plans to float 10% of the operator by the end of the financial year 2011/2012 with a view to boosting its…
South Africa’s MTN will support Rwanda’s plan to list mobile operator MTN Rwanda, according to local media The New Times.
The government reportedly plans to float 10% of the operator by the end of the financial year 2011/2012 with a view to boosting its nascent stock exchange and raise funds.
According to the reports, minister of finance John Rwangombwa recently said that if majority shareholder MTN would to offer the right price, the government would sell their stake directly to the South African company.
MTN Rwanda is the country’s largest mobile operator, ahead of Rwandatel and Tigo.
The Rwanda stock exchange launched on January 31, replacing the Rwanda Over the Counter Exchange, which had been in place since January 2008.
MTN did not reply for requests for comments before press time.
