President Yoweri Kaguta Museveni has witnessed the signing of an agreement for a joint venture between the Uganda Telecommunications Corporation Limited (UTCL) and Rowad Capital Commercial LLC (RCC), a company based in Dubai-United Arab Emirates at State House, Entebbe.<\/p>\n\n\n\n
The Minister of ICT and National Guidance, Dr. Chris Baryomunsi together with the Minister of State for Finance, Planning and Economic Development (General Duties), Hon. Henry Musasizi signed the agreement on behalf of the government of Uganda. <\/p>\n\n\n\n
The Permanent Secretary of the Ministry of ICT and National Guidance, Dr. Aminah Zawedde and the Permanent Secretary and Secretary to the Treasury of the Ministry of Finance, Planning and Economic Development, Mr. Ramathan Ggoobi were also part of the signatories to the agreement .<\/p>\n\n\n\n
The CEO and Managing Director of RCC, Mr. Chaher Al Taki signed the agreement on behalf of RCC.\u00a0<\/p>\n\n\n\n
President Museveni said the multi-US million-dollar joint venture project will not only improve Uganda\u2019s telecommunication sector but will also create employment opportunities for Ugandans and enhance the country\u2019s tax base.\u00a0<\/p>\n\n\n\n
\u201cThe telecommunication sector has grown a lot. Now there are 32 million subscribers. Most of it has been done by MTN which I first welcomed here and the others that came later such as Airtel. They help us to communicate, they also pay taxes and create jobs. But the difference with this one is that it will do all because the government is re-asserting shareholding in this sector,\u201d he said.\u00a0<\/p>\n\n\n\n
\u201cThe company will make profits and will also make dividends. This is the difference between MTN, Airtel and others with this one. They all create jobs at the right time, but this one, because it is a joint venture once they make profits, they give dividends to the government;- which is good. Remember the service sector is an easy sector if you are efficient,\u201d he asserted.<\/p>\n\n\n\n
The population is growing; it is now 46 million, and in 20 or 27 years, it will be 100 million. So, you are most welcome, and I wish you good luck,\u201d the President told the investors.<\/p>\n\n\n\n
Mr. Chaher Al Taki assured the President of a good working relationship with the government of Uganda to ensure that the project becomes a success. <\/p>\n\n\n\n
\u201cWe are now real partners and partners work together, they don\u2019t make money from each other they make money together,\u201d he said. <\/p>\n\n\n\n
The signing of the agreement was administered by the Attorney General Hon. Kiryowa Kiwanuka.<\/p>\n\n\n\n
Editor;msserwanga@gmail.com<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" President Yoweri Kaguta Museveni has witnessed the signing of an agreement for a joint venture between the Uganda Telecommunications Corporation<\/p>\n","protected":false},"author":1,"featured_media":11052,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[168],"tags":[],"class_list":["post-11051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national-development"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/12\/Screenshot_20231223_085530_Gmail-750x375-1.jpg","jetpack-related-posts":[{"id":13129,"url":"https:\/\/prowebinhost.com\/anzu\/government-signs-significant-agreement-with-uae-company-to-revamp-utcl\/","url_meta":{"origin":11051,"position":0},"title":"Government signs significant agreement with UAE company to revamp UTCL","author":"UgandaUpdate","date":"October 27, 2024","format":false,"excerpt":"Uganda Telecommunications Corporation Limited (UTCL) on Friday 25th October, 2024 received a new lease of life following the signing of an agreement between the Government of Uganda and Rowad Capital Commercial (RCC), a company based in Dubai, United Arab Emirates (UAE). 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