/ 10 February 2000

IKWEZI WINS STAKE IN UGANDA

A CONSORTIUM led by German firm Detecon beat two rival groups on Wednesday to win a 51% stake in Uganda’s state-owned telecommunications company. Detecon, which was partnered by Swiss-based Telcel and South Africa’s Ikwezi group, put in a winning bid of $33,5-million to buy the majority holding in Uganda Telecommunications Ltd. Under the conditions of the tender, the consortium is expected to roll out 100000 telephone lines across the country in five years and provide other value added services.