Crystal Telecom Rwanda

Last updated

Crystal Telecom
Company type Public: RSE: CTL
Industry Telecommunications
PredecessorCrystal Ventures Limited
FoundedJanuary 1, 2013;12 years ago (2013-01-01)
Headquarters Kigali, Rwanda
Area served
 Rwanda
Key people
Iza Irame
Chief Executive Officer
ProductsShareholding in Mobile Network Provider
RevenueIncrease2.svgAftertax:RWF:1.289 billion (US$1.4 million) (2019) [1]
Total assets RWF:24.038 billion (US$26 million) (2019) [1]
Parent Crystal Ventures
Website www.crystaltelecom.co.rw [ dead link ‍]

Crystal Telecom Rwanda, commonly referred to as Crystal Telecom, is a special purpose vehicle company of Crystal Ventures, a holding company owned by the Rwandan presidential party, Rwandese Patriotic Front. It is listed on the Rwanda Stock Exchange with its headquarters in Kigali, Rwanda. The firm holds a 20 percent stake in MTN Rwandancell as its only investment. [2]

Contents

History

Crystal Telecom was formed in 2013 [2] when Crystal Ventures, a holding company owned by the Rwandese Patriotic Front, the Rwandan presidential party, spun off its shareholding in MTN Rwandantell to its newly incorporated subsidiary through an IPO. The IPO was conducted in June 2015 and was over-subscribed by 123 percent. [3]

Crystal Telecom is a special purpose vehicle company that owns 20 percent of MTN Rwandacell, a member of the MTN Group. As of 2015, that shareholding was its only investment. [4] The company's shares started trading on the Rwanda Stock Exchange on 17 July 2015 under the symbol CTL, making it the third local company to list on the exchange, behind Bralirwa and Bank of Kigali. [4] [5]

As of December 2019, Crystal Telecom had total assets of RWF:24.038 billion (US$26 million), with shareholders equity of RWF:23,971 billion (US$25.9 million). [1]

In 2021, the company closed and delisted from RSE as it became part of MTN Rwanda. [6]

Location

Crystal Telecom maintains its headquarters in the offices of Crystal Ventures, a holding company owned by the presidential party, [7] at Grand Pension Plaza, on the 14th Floor, at 2 KN 3 Avenue, in Kigali, Rwanda's capital and largest city. [8] The geographical coordinates of the company's headquarters are:01°56'47.2"S, 30°03'37.4"E (Latitude:-1.946444; Longitude:30.060389). [9]

Governance

The company is supervised by a five-person board of directors. The table below illustrates the members of the board as of 31 December 2017. Evelyn Kamagaju Rutawenda was the chairperson and Iza Irame was the chief executive officer. [10]

Composition of the Board of Crystal Telecom Limited
RankBoard MemberPositionNotes
1Evelyn Kamagaju Rutawenda Chairperson [10]
2Iza Irame Chief Executive Officer [10]
3Cherno GayeMember [10]
4John Bosco SebabiMember [10]
5David DaluisenMember [10]
Total
5

See also

References

  1. 1 2 3 Crystal Telecom (2020). "Financial Statements For The Period Ended 31 December 2019" (PDF). Kigali: Crystal Telecom Rwanda. Archived from the original (PDF) on 7 June 2020. Retrieved 7 June 2020.
  2. 1 2 Crystal Telecom Rwanda (7 June 2020). "About Crystal Telecom". Kigali: Crystal Telecom Rwanda. Archived from the original on 7 March 2022. Retrieved 7 June 2020.
  3. ↑ Collins Mwai (17 June 2015). "Crystal Telecom IPO oversubscribed by 123%". New Times . Kigali. Retrieved 7 June 2020.
  4. 1 2 Charles Mwaniki (19 May 2020). "Rwanda's Crystal Telecoms offers Kenyans shares in IPO". The EastAfrican . Nairobi. Retrieved 7 June 2020.
  5. ↑ Ben Gasore (14 July 2015). "Market gears up for Crystal Telecom listing on Friday". New Times . Kigali. Retrieved 7 June 2020.
  6. ↑ Mbabazi, Donah (12 January 2021). "What Crystal Telecom's closure means for shareholders" . Retrieved 14 March 2025.
  7. ↑ Romain Gras (2 May 2023). "[Enquête] Crystal Ventures, la face business du FPR de Kagame - Jeune Afrique.com" (in French). Retrieved 14 March 2025.
  8. ↑ Crystal Telecom (7 June 2020). "Contacts of Crystal Telecom". Kigali: Crystal Telecom Rwanda. Archived from the original on 7 March 2022. Retrieved 7 June 2020.
  9. ↑ "Location of Headquarters of Crystal Telecom" (Map). Google Maps . Retrieved 7 June 2020.
  10. 1 2 3 4 5 6 Crystal Telecom (28 March 2018). "Annual Report For The Year Ended 31 December 2017" (PDF). Kigali: Crystal Telecom. Archived from the original (PDF) on 28 August 2019. Retrieved 8 June 2020.

1°56′47.2″S30°3′37.4″E / 1.946444°S 30.060389°E / -1.946444; 30.060389

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