Africa-Press – Uganda. Yas, a subsidiary of Axian Telecom Holding & Management PLC, has finalised the acquisition of 99.63% of Wananchi Group Ltd, the parent company of Zuku and Simbanet.
The landmark transaction is valued at $63 million (about Shs240 billion).
For many Ugandans, Yas is a relatively new name, but it is far from a newcomer in Africa’s telecommunications landscape. Yas is a brand of Axian Telecom, a pan-African telecommunications group headquartered in Madagascar and Mauritius.
The group operates in several African countries including Tanzania, Madagascar, Togo, Senegal, the Democratic Republic of Congo, and the Comoros, providing mobile, broadband, and fintech services.
Rather than being a purely Ugandan company, Yas represents Axian Telecom’s unified identity for its growing network of mobile and broadband operations across the continent.
Its portfolio spans mobile communications, fixed and fibre broadband connectivity, digital infrastructure, and financial technology services.
Through this diversified presence, Yas is driving Africa’s digital transformation, connecting millions to affordable and reliable communication services.
The acquisition marks a major milestone in Axian Telecom’s regional growth strategy, reinforcing its leadership in fibre connectivity and expanding its footprint across Kenya, Uganda, Tanzania, and Malawi.
The move is expected to deliver significant economic benefits to Uganda, including job creation, improved digital infrastructure, and greater access to affordable high-speed Internet — key drivers for innovation, productivity, and competitiveness in the digital age.
“This acquisition marks a strategic step in our mission to make high-quality digital connectivity accessible and affordable to all. East Africa remains a priority growth market for Axian Telecom, and Uganda in particular offers tremendous opportunities for innovation, digital inclusion, and sustainable infrastructure development,” said Hassan Jaber, CEO of Axian Telecom.
Through the acquisition, Yas inherits Wananchi Group’s extensive fibre network, which will be upgraded over the next 12 to 24 months.
The company plans to expand fibre-to-the-home (FTTH) services, improve network reliability, and roll out advanced digital solutions such as enterprise cloud computing, Internet of Things (IoT) connectivity, and smart business services.
These developments are poised to boost Uganda’s digital economy by enhancing business efficiency, enabling e-learning, supporting fintech innovation, and reducing operational costs for SMEs.
Analysts note that improved connectivity could raise national productivity and contribute up to 1.5% to GDP growth annually, in line with global studies linking broadband penetration to economic expansion.
According to Jaber, the transaction also positions Uganda as a regional hub for digital innovation.
“We are bringing new capital, advanced technology, and fresh opportunities, all while preserving the trust and familiarity that Ugandans already associate with Zuku and Simbanet,” he said.
He added that Yas is committed to retaining local expertise within the Ugandan workforce while introducing Axian’s international best practices and customer-centred operational standards.
This approach will ensure a smooth transition while boosting local employment and capacity development in the ICT sector.
Bertrand Lacroix, CEO of Axian Telecom Fibre, said the integration of Wananchi’s assets will significantly enhance the company’s pan-African broadband footprint.
“Our goal is to build a leading pan-African broadband connectivity provider, and Wananchi’s addition is a big step forward,” he said.
“We are committed to bringing high-speed Internet to millions more Africans. Our strong performance so far, doubling our fixed broadband base and achieving double-digit revenue and EBITDA growth, shows the strength of our model.”
Industry experts believe Yas’s entry could spur competitive pricing in Uganda’s broadband market, potentially lowering Internet costs for consumers and businesses.
With affordable and faster Internet, sectors like e-commerce, telemedicine, and online education are expected to expand, unlocking new revenue streams and employment opportunities.
The deal also aligns with Uganda’s National Broadband Policy, which seeks to achieve universal access to high-speed Internet by 2030.
Improved fibre infrastructure will support the government’s ongoing efforts to digitize public services, expand e-government systems, and enable data-driven decision-making.
Beyond profits, Yas’s acquisition underscores Axian Telecom’s commitment to Environmental, Social, and Governance (ESG) principles.
The company aims to champion sustainable growth through local talent development, rural connectivity expansion, and green energy solutions in network operations.
“This acquisition also reinforces our ESG commitments, with a focus on sustainable growth, local talent development, and rural digital inclusion to ensure that no community is left behind in the region’s digital evolution,” Jaber noted.
With Uganda’s surging demand for stable broadband driven by hybrid work models, digital learning, fintech innovation, and a fast-growing online economy, the acquisition arrives at a critical time.
By bridging the connectivity gap and extending fibre access to underserved communities, Yas is poised to play a transformative role in Uganda’s journey toward a fully digital economy.
Analysts estimate that improved broadband access and digital innovation could add over $1 billion (Shs3.8 trillion) in cumulative economic value to Uganda over the next decade through increased productivity, tech entrepreneurship, and digital trade.
In essence, the acquisition of Zuku and Simbanet by Yas is not just a corporate milestone — it represents a major leap toward inclusive economic growth, positioning Uganda and the wider East African region at the heart of Africa’s digital revolution.
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