Wananchi Group Holdings Limited will sell its corporate and enterprise facing businesses exclusively to Synergy Communications.
The businesses operate under the aegis of Wananchi Business Services, which comprises the following brands: SimbaNET, Wananchi Telecom and iSAT.
Wananchi Business Services provides dedicated internet, managed network, data centre, cloud and wholesale carrier solutions over its fiber, wireless and satellite networks across East Africa for the corporate and enterprise market.
Speaking on behalf the board, Alex-Handrah Aime, Chairperson, Wananchi Group said: “The decision by the board to sell Wananchi Business Services has been guided by a desire to deepen Wananchi Group’s products and services portfolio within the consumer / retail service segment and to provide best-in-class customer experience to all our clients.”
She added; “We believe that the transaction will unlock shareholder value amidst a competitive and dynamic operating environment defined by rapid technological changes.”
The transaction is subject to requisite regulatory approvals from multiple bodies in various jurisdictions. Due to the regulated approval process and varied laws that govern each jurisdiction, Wananchi Group and SynCom are bound to confidentiality tenets that minimize the amount of information that can be shared about the transaction during this pre-approval period.
Speaking on behalf of SynCom, Geoff Hardwick, the Chief Executive Officer of SynCom, said; “The proposed acquisition of the units presents a tremendous opportunity for business growth and investment on the back of a proven and successful business model. The focus on corporate and enterprise customers perfectly fits our goal of providing high quality, enterprise communications services and products across the sub-Saharan region”.
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