Madagascar-based Axian Telecom has officially completed its acquisition of Wananchi Group, the parent company of Kenya’s Zuku brand, marking a major milestone in the region’s telecommunications sector. The deal, which grants Axian a 99.63 percent stake in the company, signifies the group’s entry into Kenya’s fixed-connectivity infrastructure market and strengthens its position in East Africa’s most advanced digital economy.
The acquisition follows nearly 18 months of negotiations and regulatory approvals, culminating in final clearance by the COMESA Competition Commission in December 2024. Although the transaction value remains undisclosed, the deal has received strong international financial backing. The International Finance Corporation (IFC) confirmed it is part of a consortium of debt investors supporting the acquisition, anchored by a $550 million (Sh71 billion) bond issuance, of which $75 million (Sh9.6 billion) was allocated specifically for the Wananchi takeover.
Axian Telecom Fibre CEO Bertrand Lacroix stated that the company is now focused on investing heavily in expanding fibre coverage across Kenya. He emphasized Axian’s commitment to delivering high-speed internet to millions of Africans while doubling its fixed broadband base and achieving strong revenue growth. The acquisition will see Wananchi integrated into Axian Telecom Fiber, a newly formed subsidiary that consolidates all fixed-connectivity operations under one strategic unit.
Group CEO Hassan Jaber described the acquisition as both a market expansion and a strategic step toward accelerating digital connectivity for homes and businesses. He noted that entering Kenya—the continent’s most advanced digital economy—allows Axian to solidify its regional presence and enhance its service portfolio, which already spans mobile and fintech operations in countries such as Tanzania, Madagascar, Comoros, Senegal, and Togo. Wananchi’s inclusion now completes Axian’s fixed broadband offering, filling a critical gap in its business model.
For Kenya, the acquisition represents a promising shift for Zuku customers, who have long faced service interruptions and limited coverage. With new capital and operational expertise, Axian aims to modernize the network, expand its reach beyond the current six-county footprint, and improve service reliability. Wananchi’s management confirmed that existing operational teams would remain intact during integration, ensuring continuity as Axian brings new momentum to Kenya’s broadband market.
