@newworldupdates: President Yoweri Museveni has reportedly ordered the removal of the investor contracted to revive Uganda Telecommunications Corporation Limited (UTCL), popularly known as Uganda Telecom (UTel), after the promised initial investment of $25 million failed to materialise. The Worst Enemy of Hypertension! Read Before it's Deleted.Important information. Read now!Cardizoom by Taboola Sponsored Links The decision was made during a meeting at State House on Tuesday, October 6, according to information from the meeting, where Museveni directed the government to take over the investment and pursue the telecom company’s revival using public resources. The President also directed that a proposal be presented to Parliament of Uganda to facilitate the government’s takeover of the investment and establish a framework to revive the struggling national telecommunications company. Recommended  Ugandan National Katungi Appears in US Court Over Alleged Cocaine and Arms Trafficking Plot ugdiplomat.com•12 hrs 22  Museveni decorated with prisons medal as 19 others honoured on Independence Day ugstandard.com•2 hrs The development marks a major turn in the government’s partnership with Dubai-based Rowad Capital Commercial (RCC), which had been selected to spearhead UTel’s revival under a proposed $225 million investment arrangement. 15 Amazing Beaches That You Must Visit In Your LifeKingdom Of Men by Taboola Sponsored Links Under the agreement, RCC was expected to inject an initial $25 million within 90 days, followed by a further $200 million over three years. The investor was also expected to acquire a 60 per cent stake in the company, with the government retaining 40 per cent.  However, questions have persisted over whether the initial investment was ever made, raising concerns about the implementation of the agreement and the future of the telecom operator. The reported decision by Museveni to end the investor’s involvement and pursue a government-led revival would effectively shift responsibility for the company’s turnaround back to the state. Government to seek parliamentary approval Eat This to Clean Blood Vessels and Normalise Blood Pressure!Important information. Read now!Cardizoom by Taboola Sponsored Links The proposed move to Parliament is expected to provide the legislative or financial framework necessary for the government to take over the investment and mobilise resources for UTel’s revival. The government has previously indicated that restoring the national telecom operator would require substantial capital to rebuild its operations, improve infrastructure and strengthen its competitiveness in Uganda’s telecommunications market. A government-led approach would, however, raise questions about the amount of public funding required, the status of the existing investment agreement and the legal arrangements necessary to terminate or unwind the partnership with RCC. #pシ゚viral #creatorsearchinsights #fypシ #foryou #foryou

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Friday 09 October 2026 19:59:15 GMT