Tanzania's Ali Mufuruki to own majority stake in Wananchi Group Holdings Limited

By professo

The Tanzanian businessman and founder of Infotech Investment Group, Ali Mufuruki, has announced his plans to acquire a 50% stake in the Kenya-based Wananchi Group Holdings Limited.

The businessman currently has a 1% stake in the firm, and so on approval of his acquisition, Mufuruki will have majority shares in the firm.

The Fair Competition Commission (FCC) confirmed that it will be reviewing the shareholding bid of the internet and pay-TV service provider and parent group of Zuku TV.


Wananchi Group Holding Ltd provides both residents and corporate customers with home entertainment and communication services.

The purchase proposals will be investigated in line with the Fair Competition Act’s provisions and rules.

Parties that are interested in the merger have been advised by the FCC to register interests or objections in order to aid the decision.


Featured Articles

Top 10 most innovative telecom operators in the Middle East

With Dubai-based Telecoms World Middle East in full swing, we chart the most innovative telcos from the region – and look at how they are transforming

Top 10 fastest-growing Indian companies in the UK

Business Chief takes a look at the top 10 fastest-growing Indian companies in the UK, according to the India Meets Britain Tracker from Grant Thornton

Top 10 workplaces prioritising people and planet in the UAE

Sustainable, flexible, collaborative, tech-driven, and amenities-rich, the office of the future considers both people and planet – here are 10 in the UAE

Top 10 female HR execs leading Saudi’s workplace transition

Leadership & Strategy

Top 10 largest asset managers by AUM operating in the UAE

Corporate Finance

Top 10 female CEOs leading Africa’s biggest businesses

Leadership & Strategy