By the numbers:
- Wananchi Group has reported revenues of Sh9.2 billion ($70.5m) and net profit of Sh1.8 billion for the year ended December 31, 2025.
- The company also reported assets of Sh17.7 billion ($136.4m) and liabilities of Sh9.3B ($71.7m).
- Wananchi Group, which operates in Kenya, Uganda, Tanzania and Malawi, controls 11.1% of fixed internet market share in Kenya behind Safaricom (34.9%) and Jamii Telecommunications (20.1%).
- Zuku, Wananchi Group’s pay tv consumer brand, is the leading cable tv provider in Kenya with more than 45,000 subscriptions as of December 2025.
Former owners cash in Sh1.1 billion from sale:
- Axian Telecom acquired 99.63% of the issued share capital of Wananchi Group for Sh9.1 billion ($69.4m) in October 2025.
- Former owners of Wananchi Group, led by Liberty Global Europe 2 Limited, which had a 21.2% stake in Wananchi Group, received Sh1.1 billion ($8.3m) in cash as consideration for the sale, with Sh7.96B ($61.3m) of the proceeds used to settle shareholder debt.
- Axian Telecom paid Sh1.9B ($14.6m) above the fair value of net identifiable assets of Wananchi Group.
- A group of investors comprising of Triple Holdco. Limited, Liberty Global Europe 2 Limited and Altice Africa S.A.R.L acquired majority shareholding in Wananchi Group in 2022 after converting debt to equity
- Liberty Global Europe 2 Limited converted its $31.1m debt into 21.2% shareholding in Wananchi Group in 2022. The firm took a huge hit in the following year, providing for an impairment of $21m on the investment.
- Wananchi Group was founded in 1998 by former ICT CS Joe Mucheru and his late sister Njeri Rionge
