Rwanda strikes deal with KT Corp for 4G roll-out
The Rwandan government has signed a deal with South Korea telecoms giant, KT Corp, for the roll-out of a 4G LTE network in the Rwanda.
The network is designed to deliver fast and reliable internet services to Rwandans, as well as access to lifestyle services such as e-banking, e-learning and e-health applications.
KT will inject an estimated $140 million into a joint venture between the company and the Rwandan government, which is expected to deploy the high-speed broadband network over a period of five years.
Rwanda has rolled out over 3,000km of fibre-optic cable since 2009 in a bid to better connectivity in the country, and KT is thought to be the first large investor to come on board.
"This agreement with KT marks a major milestone in Rwanda's drive to become a modern, knowledge-based economy,” said Jean Philbert Nsengimana, Rwanda's Minister of Youth and ICT.
“By expanding our information infrastructure, we will create jobs, support social progress and propel economic growth.”
Yung Kim, chief strategy officer at KT Corp, said that the complete development is projected to cost a further $260 million, which he expects to source from banks.
KT and the Rwandan government collaborated in March this yearover the implementation of a wholesale network in the county.