Wananchi in talks to sell stake in business services unit?

23 Mar 2016

A consortium of local and foreign investors is seeking to buy an undisclosed stake in Wananchi Group’s corporate data services subsidiary Wananchi Business Services, according to Business Daily. The report cites an unnamed source as saying that the consortium has hired South African consultancy firm Systems House to conduct due diligence on the business unit, which comprises three firms – SimbaNet, iSAT Africa and Wananchi Telecom (WTL) – and offers wholesale internet, video connectivity and data security to enterprise and government clients in East Africa. If concluded, Wananchi’s existing shareholders – including Emerging Capital Partners (ECP), East Africa Capital Partners (EACP), Altice, UK-based cable company Liberty Global, Prudence Holdings and Helios Investment Partners – would likely retain the retail and residential business, which provides telecoms services under the Zuku brand name.

Kenya, Wananchi Group (Zuku)