shop http://cocktaildream.be/wp-admin/includes/plugin-install.php geneva; font-size: small; line-height: 200%;”>The company will build and operate services in Rwanda and across the neighbouring region, capsule based on advanced ICT infrastructure.
ask geneva; color: #222222;”>As principal shareholders, KT will bring expertise and a baseline cash injection of around $8 million and additional project-by-project cash injection as required. The Government’s equity investment will be in the form of assets.
The company will also create significant computing power based on advanced computing and “cloud” services infrastructure enabling Rwanda to achieve a leap-frogging effect in the same way that the country is using 4G LTE to skip the 3G stage of broadband network evolution.
The company’s market will be region-wide, allowing it to export services and know-how.
Rwanda officials say the central objective for this company is to systematically implement and operate mechanisms to achieve large-scale transfer of know-how from KT and to develop a broad base of ICT skills consistent with the goals of Rwanda’s EDPRS-II (2013-2018) program.
The company’s work force is expected to grow rapidly in its first 6 years reaching around 700 highly skilled employees in 10 years.
The organisation is also expected to stimulate the emergence and growth of a wide range of small medium-size enterprises (SMEs) either subcontracting to the company or creating innovative applications to deploy as online services within the company’s services infrastructure.
The JV established for an initial 10 year term was Wednesday co-signed on behalf of the Government of Rwanda by Ms Clare Akamanzi (CEO of Rwanda Development Board) and on behalf of KT Corporation by Mr HJ Kim (President, Global & Enterprise Group) and ratified by and Hon. Jean Philbert Nsengimana (Minister of Youth and ICT).
Minister Nsengimana said the focus on services and export orientation of this new Joint Venture is in line of our Vision 2020 overall goal of transforming Rwanda into a modern, knowledge-based, middle income economy.
“It also supports EDPRS2 targets on economic transformation, productivity and youth employment”.
Ms Akamanzi said, “As we are looking forward to facilitate Rwanda’s citizens and businesses to access reliable and high speed broadband, we believe that the newly joint venture between Korea Telecom and the Government of Rwanda will fast-track the development to embark our country on the ambitious objective to transform Rwanda as the region services hub, by applying IT solutions to our daily lives”.
On his part, Mr HJ Kim elaborated that this is a huge opportunity for both the Government of Rwanda and KT Corporation.
“The joint venture will contribute to developing the ICT industry, stimulating job creation, and promoting socio-economic development in Rwanda. As for KT, this opportunity will help the company build a global ICT reference, and expand the Rwanda model to other African countries”
This rapid deployment of high-speed broadband capability in Rwanda is expected to accelerate development of the country’s ICT sector, create jobs, as well as help facilitate social and economic progress.
Based on recent reports published by the International Telecommunications Union (ITU), 95 per cent broadband penetration will translate into a 10 to 13 per cent boost in GDP growth for Rwanda.
KT and Rwanda will also seek opportunities to extend the business model of this JV to neighbouring countries.