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.[1]
History
Crystal Telecom was formed in 2013[1] 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.[2]
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.[3] 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.[3][4]
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).[5]
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]
See also
External links
References
- Crystal Telecom Rwanda. About Crystal Telecom Crystal Telecom Rwanda, 7 June 2020, retrieved 7 June 2020^
- Collins Mwai. Crystal Telecom IPO oversubscribed by 123% New Times, 17 June 2015, retrieved 7 June 2020^
- Charles Mwaniki. Rwanda's Crystal Telecoms offers Kenyans shares in IPO The EastAfrican, 19 May 2020, retrieved 7 June 2020^
- Ben Gasore. Market gears up for Crystal Telecom listing on Friday New Times, 14 July 2015, retrieved 7 June 2020^
- Crystal Telecom. Financial Statements For The Period Ended 31 December 2019 Crystal Telecom Rwanda, 2020, retrieved 7 June 2020^
- Donah Mbabazi. What Crystal Telecom's closure means for shareholders 2021-01-12, retrieved 2025-03-14^
- Romain Gras. [Enquête] Crystal Ventures, la face business du FPR de Kagame - Jeune Afrique.com May 2, 2023, retrieved 2025-03-14^
- Crystal Telecom. Contacts of Crystal Telecom Crystal Telecom Rwanda, 7 June 2020, retrieved 7 June 2020^
- {{google maps|title=Location of Headquarters of Crystal Telecom | url=https://www.google.com/maps/place/1%C2%B056'47.2%22S+30%C2%B003'37.4%22E/@-1.9464473,30.0603634,98m/data=!3m1!1e3!4m5!3m4!1s0x0:0x0!8m2!3d-1.9464444!4d30.0603889 |accessdate=7 June 2020}}^
- Crystal Telecom. Annual Report For The Year Ended 31 December 2017 Crystal Telecom, 28 March 2018, retrieved 8 June 2020^