AXIAN Telecom aims at East Africa in latest $63M Wananchi Group acquisition deal

Madagascar-based AXIAN Telecom has acquired Wananchi Group, the parent company of Kenya’s Zuku Internet and Tanzania’s Simbanet, in a $63 million deal aimed at expanding its broadband footprint across East Africa.

The acquisition, made through AXIAN’s fibre subsidiary Yas Telecom, gives the company a 99.63% stake in Wananchi Group Ltd. It marks AXIAN’s biggest step into Kenya, Tanzania, and Uganda, three of the region’s most promising internet markets. The acquisition follows AXIAN’s $100 million financing deal from the European Investment Bank (EIB) in October 2025.

Wananchi Group, one of East Africa’s oldest internet providers, operates Zuku, which pioneered home fibre connections in Kenya’s middle-class suburbs. By bringing Zuku under its network, AXIAN gains an established customer base and brand recognition that can accelerate its regional ambitions.

“Wananchi Group’s network, customer relationships, and local expertise align perfectly with our ambition to be a leader in broadband connectivity across Africa,” said Hassan Jaber, CEO of AXIAN Telecom. “Together, we can deliver better access and new digital services for the communities and businesses we serve.”

The acquisition is expected to shake up East Africa’s broadband industry, where competition is fierce. In Kenya, Safaricom and Jamii Telecom dominate fixed internet, while Liquid Intelligent Technologies and Mawingu target business and rural users.

AXIAN says it will retain Wananchi’s staff and operations during the transition while improving network reliability and expanding coverage in underserved areas. The company plans to leverage Yas Telecom’s investment capacity and cross-market expertise to strengthen service delivery.

AXIAN, the sixth-largest telecom operator in Africa, led by Malagasy businessman Hassanein Hiridjee, is currently rebranding its telecom and fintech operations under the Yas name to create a unified identity. 

“The integration of Wananchi will leverage Yas’s operational scale, investment capacity, and cross-market expertise,” said Bertrand Lacroix, CEO of AXIAN Telecom Fibre. “Continuity of employment and business operations will be maintained, ensuring a smooth transition for employees, customers, and partners.”

AXIAN’s twin moves—securing fresh funding and acquiring Wananchi Group—highlight its determination to capture Africa’s fast-growing digital market. Competition from MTN, Orange, and Vodacom remains strong, while new entrants such as Starlink are introducing satellite broadband. Yet AXIAN’s strategy seems to be combining mobile networks, broadband, and fintech, which could help it build an ecosystem that keeps customers engaged and loyal.