UTel Secures $225 Million Investment from Dubai’s RCC, Gaining 60% Majority Stake

Uganda Telecommunications Corporation Limited (UTel) is reportedly poised to undergo a significant transformation with a $225 million investment from Rowad Capital Commercial (RCC) LLC, a global engineering and construction contractor based in Dubai. This substantial investment reportedly will see RCC acquiring a 60% majority stake in UTel, marking a pivotal moment in the state-run telecom’s history.

The infusion of capital is expected to drive UTel’s expansion and modernization efforts, positioning it as a more competitive player in Uganda’s telecommunications market. As the deal reaches finalization, UTel stands on the brink of a new era of growth and development, fueled by RCC’s strategic investment.