Nairobi, 2 October 2014 – Wananchi Group (“Wananchi”), owners of the Zuku Fiber, Zuku pay TV and Simbanet business services brands, today announced the closure of a $130m financing to fund its growth and expansion in East and Southern Africa.
“The new capital investment will be used to consolidate the group’s market leadership in East Africa and to extend our services across East and Southern Africa. We will continue the deployment of fiber to the home networks in more cities in East Africa and extend our business services networks and product offerings across a wide variety of geographies and market segments. With our stronger balance sheet we will also invest in exciting new technologies and service platforms to improve the quality of our products and deliver a superior experience for our customers,” said Richard Bell, Vice Chairman of Wananchi.
The capital investment was co-led by existing Wananchi shareholders including Altice SA, Liberty Global, Emerging Capital Partners (“ECP”) and ATMT and new investors, Helios Investment Partners.
Source: Helios Investment Partners.
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