Tanzania mogul to increase Zuku stake
Tanzanian businessman Ali Mufuruki, addressing the AU Heads of States Summit in Niamey Niger at the formal launch of the AfCFTA on 7th July 2019
What you need to know:
- Tanzania’s Fair Competition Commission said it had already received a notification of Mr Mufuruki’s proposed acquisition.
Tanzanian businessman Ali Mufuruki has moved to acquire additional shares and assets in Wananchi Cable (T) Ltd, a subsidiary of Wananchi Group Holdings of Kenya, which deals in the provision of Internet, voice and pay TV under the brand name of Zuku across the region.
Our sources has learnt that Mr Mufuruki is seeking to take over control of the Wananchi Group subsidiary as he moves to strengthen his position in the telecommunications sector.
Currently, he holds a 35 per cent shareholding in Wananchi Cable (T) Ltd and a similar stake (35 per cent) in the Internet provider, Simbanet (T) Ltd.
Wananchi Group owns A 65 per cent stake in Simbanet (T) Ltd
Tanzania’s Fair Competition Commission said it had already received a notification of Mr Mufuruki’s proposed acquisition.
“FCC is currently investigating the intended acquisition in line with the provisions of the Fair Competition Act, No. 8 of 2003 and the Competition Rules, 2018,” the FCC said in a public notice.
