Under terms of the agreement, Liquid Telecom now owns the assets and business of the company.
Rwandatel went into administration in May last year, and the deal is seen as a welcome boost for the struggling African operator.
“This is a good outcome for the creditors and the telecommunications sector,” said Richard Mugisha, insolvency administrator of Rwandatel.
“Liquid Telecom is a strong player in the industry, with a clear vision for the future of Rwandatel, and the price received was the highest offered by any of the interested parties.”
Liquid Telecom is expected to invest significantly in Rwandatel’s network, and ensure that additional products and value-added services are introduced to connect Rwanda to its neighbouring countries.
“Our priority is to quickly rehabilitate the core network and to build out the access network in order to serve Rwanda’s enterprises and residences with the most reliable, high-speed and affordable telecommunications,” said Sam Nkusi, chairman of Liquid Telecom Rwanda and group executive East Africa.
“Customers must be assured of service continuity and future improvements in their network availability and performance.”
Liquid Telecom said it a statement that it hopes to deliver ultra-fast broadband and voice services across Rwanda, and last month, the company partnered with Telarix for its voice traffic management solution.
Work on network improvements is set to start in the coming weeks.
