Kenya’s Wananchi Group, which offers triple-play services – comprising cable TV, broadband internet and voice-over-internet protocol (VoIP) – under the ‘Zuku’ brand in parts of Nairobi, has confirmed that it intends to raise KES8.9 billion (USD97.9 million) in 2012 to fund its rollout of triple-play services across East Africa. The firm, which also operates in Tanzania, has earmarked Rwanda and Malawi for future connectivity. CEO Richard Bell told Business Daily Africa that, as a result of the high interest rates currently prevailing in Kenya, Wananchi has been forced to raise the funds outside of the country
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OVETEL Wananchi Group seeks USD100m for East African expansion
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