Axian Telecom Fibre Ltd, trading as Yas, has completed a $63 million acquisition of Wananchi Group, the parent company of Zuku and SimbaNet.
Axian Telecom is a subsidiary of Mauritius-based Axian Telecom Holding and Management PLC, while Wananchi is among East Africa’s leading fixed broadband and enterprise connectivity providers.
The acquisition marks a major milestone in Yas’ regional strategy, giving it access to more than one million connected homes across Kenya, Tanzania, Uganda, and Malawi. Although both Wananchi and Axian officials declined to disclose the value of the transaction, sources said the 99 per cent acquisition was worth Shs 240 billion.
Axian has pledged heavy investment in expanding “reliable, high-speed, and inclusive connectivity” across its markets through SimbaNet, Wananchi’s business internet arm.
Zuku chief executive officer Genue Mwaura said the company needed new capital to stay competitive in a rapidly evolving industry. He said when they started in 2017, there were only a handful of players, and internet access was not yet a necessity. Today, the market is far more dynamic, and this partnership gives them the opportunity to scale and the financial muscle to expand.
Uganda’s internet service market has become increasingly crowded, with providers such as MTN, Airtel, Roke Telkom, CanalBox, Liquid Intelligent Technologies, Savanna, and Uganda Telecom jostling for market share.
Axian Telecom chief executive officer Hassan Jaber said Wananchi’s strong customer relationships, regional networks, and local expertise provide a strategic gateway for Axian’s growth beyond its existing operations in Tanzania and Malawi.
Axian, which already operates in Madagascar, Togo, Senegal, the Democratic Republic of Congo, Comoros, Réunion, and Mayotte, provides mobile and fixed connectivity as well as digital infrastructure and financial technology services.
However, in Uganda, the company plans to focus solely on household broadband connectivity and TV services rather than financial services while improving the digital capacity of government institutions and enterprises.
Wananchi’s integration into Axian’s Yas network is expected to leverage the company’s scale, investment capability, and operational expertise. Mwaura said the transition would ensure business continuity for employees and customers alike, adding that expansion could create new jobs across the region.
East Africa remains one of Africa’s fastest-growing broadband markets, driven by surging data consumption and enterprise digitalization. The sector has also seen new entrants and partnerships, including a recent joint venture between Roke Telkom and Pan-African telecommunications giant Paratus Group to form Paratus Uganda, a move expected to intensify competition and reduce internet costs.
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