Ali Mufuruki to acquire majority in Wananchi Cable Ltd

12 July 2019

Mergers, Acquisitions and Financial Results

Tanzanian businessman Ali Mufuruki has increased 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.
Source: All Africa