Rwangombwa: Rwandair not on sale

The national carrier, Rwandair, is under restructuring and not yet on the market for privatisation, Finance and Economic Planning Minister, John Rwangombwa, has revealed. Rwangombwa said this while shedding light on the ongoing privatisation process of government institutions. “We are now in a process of restructuring it (Rwandair), it is not on market at the moment, maybe some time in future, but our major aim is to make it a stronger airline,” Rwangombwa said on phone yesterday. “It had been put on the list of companies that need to be privatised, but it is not yet on the market.” The Minister, however, said that the government will soon sell off its shares in some corporations “to build up our stock exchange”. Rwangombwa listed the companies that include Bralirwa and MTN, in which the government has 30% and 10% shares respectively. Ange Mutesi, the Ministry’s Public Relations Officer, said that other companies that have been proposed for privatisation through capital markets include Bank of Kigali with 80% shares, Housing Bank, Development Bank of Rwanda (BRD), Magerwa, and SOPROTEL. Others are the national transport agency ONATRACOM and SONARWA insurance company. Recently, the Minister told the senate that government had earned at least Rwf 75 billion from the privatisation of state owned companies. Ends

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Rwangombwa: Rwandair not on sale