Liquid Telecom has received the final regulatory approval to close its latest transaction in Tanzania and has become the majority stakeholder of Raha, Tanzania’s leading Internet Service Provider.
This is expected to fuel techno business in the country that is currently ranks last in internet penetration in East Africa.
Currently, there are only 2.8 million internet users in the country that has a population of 53.4 million, representing only 5.3 per cent.
Kenya is leading with 68.4 per cent, followed by Rwanda at 24.8 per cent and Uganda at 19 per cent.
Raha 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.
Liquid Telecom’s entry is expected to boost internet enabled business with faster speed, enhancing effectiveness.
It is also expected to boost interstate businesses in East Africa, allowing seamless operations in the region that has been lagging behind in business operation.
The acquisition 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.
The Tanzania Communications Regulatory Authority (TCRA) approved the agreement on December 8, 2016.
“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.
Liquid Telecom currently work in at least 12 countries in the continent.