RURA approves Tigo Rwanda takeover by Airtel

The Rwanda Utilities Regulatory Authority (RURA) has approved the transfer of 100 percent of shares held by Millicom in Tigo Rwanda to Airtel Rwanda. The acquisition will make Airtel the second largest operator in Rwanda behind sector leader MTN. The two telecom companies had asked the regulator to endorse the deal signed in December 2017.

RURA said the acquisition will not affect the existing subscribers of Tigo Rwanda, as they will continue to be served during and after the consolidation. Subscribers will not be required to change their telephone numbers, and cash services will not be affected. Bharti Airtel said the implication of the deal is that Airtel Rwanda will acquire 100 percent equity in Tigo Rwanda, which, according to October figures, has 3.4 million subscribers in the Rwanda market.

The acquisition, according to Bharti, will position Airtel as number two in Rwanda with revenues of over USD 80 million and a revenue market share of over 40 percent. Existing Millicom Rwanda customers will join over 370 million customers on Airtel’s global network in seventeen countries. Figures from RURA show Airtel had 1.63 million subscribers in October 2017.