African fibre network operator and subsidiary of Econet Wireless, Liquid Telecom, said Tuesday it has struck a deal to acquire the East African telecom assets of Altech Group. The move will create Africa’s largest single fibre network across Kenya, Uganda, Rwanda, Zambia, Zimbabwe, Botswana, DRC, Lesotho and South Africa.
As a result of the transaction Altech will become a minority shareholder in the Liquid Telecom Group with an initial 8.6 per cent equity stake and shareholder voting rights of ten per cent.
Liquid will take a 61 per cent stake in Kenya Data Networks; control of Africa Data Networks, an operator in the DRC; Swift Global, a provider of voice, data and mobility solutions supplying government sectors in Kenya, Uganda and Rwanda; Stream, a service provider in Rwanda; and InfoCom, an ISP in Uganda.
The resulting pan-African fibre network will provide high-speed, cost-effective connectivity to carriers, ISPs, homes, financial institutions and businesses of all sizes. It will operate as a wholesale carrier in six countries as well as an operator in Zambia and Zimbabwe with direct connections to the submarine cables of Seacom, SAT3, WACS and Eassy.