UTL

For nearly a decade now, state-owned telecom has been locked in a cycle of crisis and hopeful relaunches. The story of the Uganda Telecom Limited (UTL) revamp is one of serial decline, a brush with liquidation, a government-led rescue, rebranding to UTeL, and, most recently, a promised equity investment that appears to have fallen through, leaving the telecom strained and its future uncertain. People familiar with the matter indicate that the investor behind the promised capital injection, Rowad Capital Commercial, may have quietly retreated from the deal for reasons that remain unclear. At its height, Uganda Telecom Limited (UTL) was…