Yas, a subsidiary of AXIAN Telecom Holding & Management PLC, has officially completed the acquisition of 99.63% of Wananchi Group (Holdings) Ltd, the parent company of Zuku and Simbanet, in a transaction valued at approximately US$63 million. The acquisition marks a major milestone in AXIAN Telecom’s regional growth strategy, consolidating its leadership in fibre connectivity and expanding its footprint across Kenya, Uganda, Tanzania, and Malawi.
Through this acquisition, Yas strengthens its position as a leading provider of fibre connectivity in the region, leveraging Wananchi Group’s robust infrastructure together with AXIAN Telecom’s strong investment capacity and technical expertise.
The transaction is poised to accelerate digital transformation across East Africa, empowering governments, enterprises, and consumers with faster, more reliable, and more affordable broadband services.
“This acquisition marks a strategic step in our mission to make high-quality digital connectivity accessible and affordable to all. East Africa remains a priority growth market for AXIAN Telecom, and Uganda in particular offers tremendous opportunities for innovation, digital inclusion, and sustainable infrastructure development,” said Hassan Jaber, CEO of AXIAN Telecom.
He emphasized that both Zuku and Simbanet will continue operating under their established brand identities in the near term, ensuring service continuity, pricing stability, and customer confidence throughout the integration process.
The company also reaffirmed its commitment to retaining local expertise within the Ugandan workforce, while progressively introducing AXIAN’s international best practices, operational standards, and customer-focused service models.
“Our first priority is to ensure a smooth and seamless transition for both customers and employees. We are bringing new capital, advanced technology, and fresh opportunities, all while preserving the trust and familiarity that Ugandans already associate with Zuku and Simbanet,” he added.
Jaber said over the next 12 to 24 months, Yas plans to upgrade Wananchi’s fibre network in Uganda, focusing on enhanced speed, reliability, and coverage. He said the company’s roadmap includes network densification, expansion of fibre-to-the-home (FTTH) connectivity, and the introduction of next-generation digital solutions such as enterprise cloud services, Internet of Things (IoT) connectivity, and advanced customer experience platforms.
He said:” “Wananchi Group’s network, customer relationships, and local expertise align perfectly with our ambition to be a leader in broadband connectivity across Africa. Yas already has a strong presence in East Africa, and this acquisition builds on our deep understanding of the region’s opportunities and needs while giving us access to new vibrant markets in Kenya and Uganda. Together, we will unlock new potential for growth, innovation, and value creation—delivering better access and new digital services for the communities and businesses we serve”.
Bertrand Lacroix, CEO of AXIAN Telecom Fibre, said “Our goal is to build a leading pan-African broadband connectivity provider, and Wananchi’s addition is a big step forward. We are committed to bringing high-speed Internet to millions more Africans. Our strong performance so far, doubling of our fixed broadband base and achieving double-digit revenue and EBITDA growth, shows the strength of our model.”
By leveraging AXIAN Telecom’s pan-African infrastructure and strategic partnerships, Yas aims to position Uganda as a regional hub for digital innovation, enabling both public and private sector players to accelerate their digital transformation journeys.
“This acquisition also reinforces our Environmental, Social, and Governance (ESG) commitments, with a focus on sustainable growth, local talent development, and rural digital inclusion to ensure that no community is left behind in the region’s digital evolution,” he noted.
As more Ugandans embrace online services for work, learning, and business, the need for affordable, high-speed, and stable broadband has never been greater. Yas’s entry into the market positions it to bridge existing connectivity gaps, extend fibre access to underserved areas, and empower both enterprises and households with the digital tools they need to thrive in a modern economy.
It should also be noted that Uganda’s surging demand for fast, reliable internet connectivity, fueled by the rise of hybrid work models, digital education, fintech innovation, and e-commerce growth, presents a powerful opportunity for Yas to play a transformative role in the country’s digital ecosystem.
