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Rwanda At Risk Of Business Scale Down

KT

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Korea Telcom is reviewing their projects in Africa as well as reinforcing its competitiveness in the telecommunication area.

This action, according to their local media will scale down the telecommunication company in Rwanda as well as other African countries.

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This is why, during the term of the outgoing Chairman Lee Suk-chae,  Korea Telcom signed an agreement in March 2013 to invest $140 million in Rwanda to build a fourth-generation (4G) mobile network that will serve 95 percent of the country’s population.

The company is still looking to expand its territory into Kenya and Uganda.

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 “One of the key priorities for the upcoming CEO is to recover KT’s telecommunications-related business. Synergy will be maximized only after realizing business structures that can generate profit in a stable manner regardless of market situations,” Korea Telecom official tells their media.

“The new CEO (Hwang Chang-gyu) will re-examine our African business projects from a zero-base,” he said.

The review of the overseas projects comes on the back of KT officials feeling the pinch in its domestic market as its globalization efforts are seen to have sacrificed its competitiveness locally.

Caroline Vutagwa
Caroline Vutagwahttps://my.techmoran.com
Minding my own business is not enough for me that's why you will always find me minding Africa's Businesses as well as Technology and of course letting you know about it. Talk to me on [email protected]

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