As reported by the Daily Monitor, the government set up a deadline of up to May 26 to “pick a fitting investor from multiple companies that have shown interest” in taking over UTL. A key figure among the bidders is Kenyan telco Safaricom, which is reported to be placing it’s bid through Afrinet Communications. Afrinet Communications is a Kenyan based tech company offering services including telecommunication services and is said to have close ties with Safaricom. The UTL take over could be the door opener for Safaricom into the Ugandan market after several rumoured failed attempts. It is not only Afrinet Communications in line for the take over. Several other firms have been listed, with some having a good backup from government institutions. Whichever firm that comes out successful in the bid for thethe take over, will take on a debt portfolio estimated at nearly Shs150b. PC Tech Magazine reports that:
