Axian Telecom Fibre Ltd., operating as Yas, has completed a $63 million acquisition of Wananchi Group, the parent company of East African connectivity providers Zuku and SimbaNet.
The deal marks a significant expansion for Axian Telecom, a subsidiary of Mauritius-based Axian Telecom Holding and Management PLC. The acquisition gives Yas access to more than 1 million connected homes across Kenya, Tanzania, Uganda and Malawi. While officials for both companies would not disclose the transaction’s value, sources indicated the 99 percent acquisition was valued at 240 billion shillings.
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Wananchi is a leading fixed broadband and enterprise connectivity provider in East Africa. For Zuku, the deal provides much needed financial backing.
Genue Mwaura, chief executive officer of Zuku, said new capital was essential to stay competitive in a rapidly changing industry. He noted the market is far more dynamic today than when the company began in 2017, and the partnership offers the financial strength to expand and scale operations.
Hassan Jaber, Axian Telecom’s chief executive officer, emphasized that Wananchi’s regional networks, strong customer relationships and local expertise offer a strategic entry point for Axian’s growth beyond its existing operations in Tanzania and Malawi.
Axian has committed to a substantial investment through SimbaNet, Wananchi’s business internet division, to expand “reliable, high-speed, and inclusive connectivity” across its new markets.
Wananchi’s integration into Axian’s Yas network is expected to leverage Axian’s scale, investment capacity and operational expertise. Mwaura said the transition would ensure business continuity for employees and customers, adding that the planned expansion could generate new jobs throughout the region.
East Africa is one of the continent’s fastest-growing broadband markets, driven by increasing data consumption and enterprise digitization.
