The unnamed value transaction was approved by Tanzania Communications Regulatory Authority December 8, marking Liquid Telecom's entrance in Tanzania market. Raha today serves over 1500 businesses as well as a growing number of retail customers with a range of connectivity solutions, including fibre, satellite, WiMAX and Wi-Fi.
The acquisition, according to a statement, provides Liquid Telecom's enterprise and wholesale customers with direct and faster access to Tanzania and to all Eastern, Central and Southern Africa.
Tanzania will become the latest market to be added to Liquid Telecom's extensive fibre network, which is the largest of its kind serving eastern, central and southern Africa, spanning over 40,000km across 12 countries.
"We are very pleased to announce that this transaction has received its final approval. “The agreement enables Liquid Telecom to expand its footprint into Tanzania, a growing and dynamic African country," said Nic Rudnick, CEO, Liquid Telecom.
"We are thrilled with this approval and look forward to being part of a pan-African connectivity movement," said Aashiq Shariff, CEO, Raha.
Internet penetration in Tanzania has increased rapidly in recent years reaching 34 per cent in 2015. Mobile subscriptions increased by more than 24 per cent in 2015 to 39.8 million, while the number of internet users rose 52 per cent year-on-year to reach 17.26 million last year, according to TCRA.
No comments:
Post a Comment