MTN Group now holds 80% stake in MTN Rwanda

The MTN Group has up it stakes to 80%  in MTN Rwanda after the company completed a deal last week to acquire an additional 25% shares from Crystal Ventures and  the government of Rwanda.

Prior to the conclusion of the transaction in Kigali, MTN Group held a 55% stake in MTN Rwanda.

“The transaction, which was concluded in Kigali last week and brokered by
Renaissance Capital saw MTN Group increase its ownership in MTN Rwanda from 55% to 80%. Crystal Ventures will retain a 20% interest in MTN Rwanda and will remain an active minority shareholder in the Company,” said Crystal Ventures in a statement.

By Ekow Quandzie