TELECOMMUNICATIONS - Lap Green Networks, a Libyan company is to pay $100 million (about Frw54.5 billion) for 80 percent shares in Rwandatel S.A. The sum is four times the amount that Terracom was to pay the government for the same company.

Terracom had only cleared $5 million out of $25 million, but was sent packing mid this year after the government accused it of breaching contractual terms.

Now Lap Green, which beat off competition from three other firms, has promised to invest $317 million (about Frw 172 billion) in fifteen years to revamp the telecom sector in the country.

See full story by clicking in the bussiness pages