Two Rwandan business tycoons in information technology, Eugene Nyagahane and Pascal Ndizeye have expressed interest in buying shares in Tanzanian based TV station (Tango TV) with the duo offering big money to have patent rights.
The two tycoons faced a highest bidder contest at the Transform Africa summit 2015 (TAS2015) when Victor Joseph, founder and chief executive officer (CEO) of Tango TV pitched his business seeking $20,000 to invest in expanding the station to more subscribers in the region.
Joseph said that the business so far need to cut costs of importing TV decoder boxes from China- which are purchased at $60 and sold at $50 in Tanzania despite the fact that the station has struggled to earn from $10 charge on subscription.
Rolling the deal to over six potential global investors at the summit, Joseph was faced with the difficulty to choose whom to partner with between Nyagahene (proprietor of TV and Radio 10, also the official DSTV agent in Rwanda) and Ndizeye and founder & CEO of Pascal Technologies – which operates in Africa and the US.
Nyagahene suggested that he would offer as much money as Tang TV wishes if they concede on the business plan.
“I have more money than Pascal can offer…believe me. I only want us to change the business plan to content development, because there is a lot of potential to do business with you since I am already in the business of buying content” Nyagahene said.
Facing a‘battle’ of grabbing an opportunity and humiliation in front of over 2500 global ICT experts, Ndizeye, who is relatively new in the face of Rwandan tycoons said that his operations are global and his offer is to host the TV station for a 35 percent on revenues for ten years or 25percent for 20 years period.
Joseph, who looked confused and unable to take a decision without consulting in his business partnersTanzania said that the offers were good and he is open to talk.
“Both deals are different but good. For Ndizeye I can tentative go for a 12 percent for twelve years; but I am willing to have talks with any of you.” he said.
To make a better deal line Nyagahene said that he would go for that deal if only they agreed on a new business plan, while Ndizeye conceded to the request of having further talks.
Joseph was one of the few selected young Africans who pitched their businesses at the closure of TAS2015, an event which happens every two years to discuss issues concerning the use and implementation of ICT’s on the continent.
Rosemary Mbabazi, the Permanent Secretary at Rwanda’s Ministry of Youth and ICT said that such business ideas give a sign of a better future and asked for more youth to take advantage to sell their businesses at the next edition.