Telecom

Tanzanian Ali Mufuruki to acquire majority stake in Wananchi Cable Ltd

Wednesday, 10 July 2019 17:04
Tanzanian Ali Mufuruki to acquire majority stake in Wananchi Cable Ltd

(Ecofin Agency) - Tanzanian businessman Ali Mufuruki (photo) takes moves to increase his shares in Wananchi Cable Ltd, a company specializing in providing Internet access, voice and pay TV, under the Zuku brand. Ali Mufuruki, who already owns 35% of Wananchi Cable Ltd, wants to take control of the subsidiary to strengthen his position in the local telecommunications sector.

Wananchi Cable Ltd is a subsidiary of the Kenyan company Wananchi Group Holdings. In Tanzania, where it launched activity in 2017, the market is quite competitive, with offers ranging between fixed technology, mobile, satellite and wifi services.

The acquisition of new shares in Wananchi Cable Ltd is currently subject to approval by the Fair Competition Commission FCC, in accordance with the provisions of the Fair Competition Act No. 8 of 2003 and the 2018 Competition Rules. The Commission is calling any party with an interest in this transaction to submit complaints and other opinions that will help it to make a “fair and reasonable decision.”





 
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