East and South African expansion assured for Wananchi after raising US$130 million

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Wananchi Group, the broadband and TV service provider based in Africa has secured funds of €104 million (US$130 million) to provide “growth and expansion in East and Southern Africa.” Current shareholders of the company including leading cable operators Altice and Liberty Global, Emerging Capital Partners the Africa-based private equity company, ATMT from Mauritius and newcomer to African investment Helios Investment Partners all co-led the investment.

Richard Bell, the vice-chairman of Wananchi stated that the recently gained funds are earmarked for consolidation of the company’s standing in Eastern Africa and for extension of its current service in the Southern and Eastern regions of Africa. Alykhan Nathoo, a partner of Helios explained that his new expectations are for the Wananchi Group to expand the coverage of its infrastructure and increase its broadband-based triple play provision, “including direct to home satellite products to many more tens of thousands of consumers across the greater Eastern Africa region and beyond.”

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