Regional fibre infrastructure builder and operator Liquid Telecom Group has announced that it has purchased the 50% stake it did not already hold in its Zambian subsidiary, CEC Liquid Telecom, from Copperbelt Energy Corporation (CEC). In a press release confirming the development, Liquid Telecom said the acquisition would ‘help facilitate the group’s digital transformation strategy through an enhanced operating model and the benefit of 100% of the cash flows from CEC Liquid Telecom and its retail arm, Hai Zambia’. Financial terms of the deal were not disclosed.
In taking full control of CEC Liquid Telecom, the group hopes to focus on growing its wholesale, enterprise and retail offering across Zambia, resulting in improved customer service and the delivery of new products. It has also confirmed it intends to invest further in its fibre network in Zambia on the back of the deal, while it will now connect the country to its ‘One Africa’ broadband network, in a move which it claims will allow access to ‘the single largest independent fibre network on the continent – stretching all the way from Cape Town to Cairo’.
Zambia,CEC Liquid Telecom (Zambia), Liquid Telecom Group, Corporate/Financial, Mergers/Acquisitions