With the International Finance Corporation (IFC) stepping in to fund Axian Telecom’s $75 million buyout of Wananchi Group, the deal is shaping up as more than just an acquisition; it’s a bet on Africa’s next broadband frontier.
As of October 2025, the IFC is expected to anchor a landmark $550 million bond issuance by Axian, earmarking $75 million specifically to refinance Wananchi’s existing debt, finalise the buyout from shareholders like Altice and Liberty Global, and supercharge operational growth.
This $550 million raise isn’t solely for the buyout; it also aims to fortify Axian’s regional ops, including its Yas mobile money platform, which boasts over 15 million users across its footprint.
The Deal in Detail: From Signature to Funding Milestone
The acquisition agreement was inked on August 17, 2024, targeting Wananchi’s core assets: its fibre networks, broadband services under the Zuku brand, and pay-TV operations.
This move allows Axian to sidestep the complexities of greenfield entry into Kenya, leveraging Wananchi’s established infrastructure instead.
The COMESA Competition Commission gave its nod in December 2024, clearing regulatory hurdles early on.
However, completion has stretched into 2025, with Fitch Ratings noting in June that the deal, if finalised, would modestly boost Axian’s EBITDA without overwhelming its balance sheet.
Wananchi and Axian: A Powerhouse Pairing
Wananchi Group has long been a fibre pioneer in East Africa. Since its 2014 regional expansion, strengthened by a Sh12 billion investment, it has built a powerful presence.
It includes 10-15% of Uganda’s pay-TV market and similar stakes in Malawi through its Simbanet arm, alongside operations in Tanzania, Mauritius, and Zambia.
In Kenya, it’s a broadband leader, delivering triple-play services (internet, TV, voice) to urban and peri-urban homes.
Enter Axian Telecom, Africa’s sixth-largest mobile operator with 41 million subscribers spanning Tanzania, Uganda, the Democratic Republic of Congo, Comoros, Togo, and Senegal.
This acquisition marks Axian’s strategic debut in Kenya, deepening its East African ecosystem and aligning with its pan-continental ambitions.
READ ALSO:Why This Telecom Alliance Could Bring High-Speed Internet to Africa’s Most Remote Corners
Kenya’s Internet Arena: Crowded, but Room for Shake-Ups
Kenya’s fixed broadband market is a battlefield dominated by giants, with total connections hitting millions amid a push for digital inclusion.
As of September 2025, Safaricom commands a commanding 34% share, fuelled by its Home Fibre and 5G rollouts. Jamii Telecommunications (Faiba) follows at its heels with 20%, capitalising on aggressive pricing and rural reach.
Wananchi (Zuku) holds third at 12.7%, a dip from 14.4% in Q1 2025 and earlier highs of 15.4%, reflecting subscriber decline amid network strains and competition from satellite players like Starlink (now at a slim 0.9%).
The overall telecom market is projected to swell from $3.87 billion in 2025 to $4.33 billion by 2030, growing at 2.24% CAGR, driven by rising data demand and SME digitalisation.
| ISP | Market Share (Sep 2025) | Connections (Est.) | Key Strengths |
|---|---|---|---|
| Safaricom | 34% | ~1.2M | Nationwide 5G, bundled mobile plans |
| Jamii Telcom (Faiba) | 20% | ~700K | Affordable pricing, rural expansion |
| Wananchi (Zuku) | 12.7% | ~450K | Urban fiber, pay-TV integration |
| Poa Internet | 12.5% | ~440K | Low-cost wireless broadband |
| Others (incl. Starlink) | 20.8% | ~730K | Niche satellite/rural focus |
Disruption on the Horizon: Competition, Pricing, and Innovation
Will this buyout disrupt the status quo? Analysts say yes, but over time. Axian’s entry injects capital for infrastructure upgrades, promising faster speeds and wider coverage, which is critical in a market where 40% of Kenyans still lack reliable broadband.
Expect pricing pressures: Zuku’s enhanced scale could undercut Faiba’s budget model, while cross-promotions with Axian’s mobile ops might draw SMEs away from Safaricom’s ecosystem lock-in.
A Consolidation Win for East Africa
As Africa’s digital economy matures, telecoms are racing to power the next billion connections. Axian Telecom’s planned Wananchi takeover, supported by the IFC, could set the tone for a new wave of infrastructure-led innovation.
Beneath the surface, a deeper transformation is emerging in East Africa’s connectivity landscape.
AXIAN Telecom: Expanding Africa’s Digital Frontier
AXIAN Telecom has rapidly become one of Africa’s leading telecom and technology powerhouses, driving connectivity across multiple markets.
Under the leadership of the AXIAN Telecom CEO, the company continues to invest heavily in digital infrastructure, financial inclusion, and mobile innovation.
Headquartered in Madagascar, the AXIAN Telecom headquarters serves as the strategic hub for its operations spanning more than eight countries.
As part of the diversified AXIAN Group, the telecom division operates alongside ventures in energy, real estate, and financial services reflecting the group’s commitment to Africa’s long-term growth.
Recent Axian Telecom news highlights strategic partnerships and expansion initiatives aimed at improving broadband access and mobile penetration.
Investors have also shown growing interest in Axian Telecom stock and the Axian Telecom share price, viewing the company as a key player in Africa’s fast-evolving digital economy.
Founded by visionary leaders, the Axian Telecom owner continues to emphasise inclusive digital transformation, making AXIAN one of Madagascar’s most influential multinational brands.
Ronnie Paul is a seasoned writer and analyst with a prolific portfolio of over 1,000 published articles, specialising in fintech, cryptocurrency, and digital finance at Africa Digest News.
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