Monday, 19 November 2018

Liquid Telecom closes Zambia buyout, names new CEOs

By Mary Lennighan, for Total Telecom
Wednesday 17 October 18

Pan-African operator says taking sole control of Zambian business and creation of new regional CEOs will further its digital transformation plan

Liquid Telecom has taken sole control of its Zambian subsidiary CEC Liquid Telecom, a move it claims will enable it to further investments in the country, and has also created new regional leadership positions. The pan-African fibre network operator announced on Wednesday that it has acquired its joint venture partner Copperbelt Energy Corp's 50% stake in CEC Liquid Telecom…

Liquid Telecom has taken sole control of its Zambian subsidiary CEC Liquid Telecom, a move it claims will enable it to further investments in the country, and has also created new regional leadership positions.

The pan-African fibre network operator announced on Wednesday that it has acquired its joint venture partner Copperbelt Energy Corp's 50% stake in CEC Liquid Telecom.

It did not disclose the value of the deal.

"The acquisition will 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," Liquid Telecom said, in a statement.

Liquid Telecom launched its Hai retail brand in Zambia just over three years ago, months after buying Zambian consumer and business ISP Realtime.

Liquid Telecom Zambia, as the company will now be known, will be overseen by Wellington Makamure, who was named as Liquid Telecom's new regional CEO of Southern Africa on Monday.

Makamure, who joined the Liquid Telecom group in 2009, takes up his new position having previously served as managing director of Liquid Telecom Zimbabwe. He will be responsible for the company's wholesale, enterprise and retail businesses in Zimbabwe, Zambia, Democratic Republic of Congo and Botswana.

Liquid Telecom said the creation of this new position is part of its broader digital transformation strategy.

"The organisation is migrating to a digitally enhanced operating model that will deliver higher levels of customer experience and ensure for long-term business sustainability," it said.

It made the same comment about the appointment of Adil Youssefi to another new role, that of East Africa CEO.

Youssefi, who has served as CEO of Liquid Telecom Kenya since April 2017, will oversee Liquid Telecom's operations in Kenya, Rwanda, Uganda, Tanzania and Ethiopia.

Liquid Telecom is one of 70 companies shortlisted for the 2018 World Communication Awards, running on 31 October 2018 in London. To be in attendance at the biggest night in telecoms, book your seat now by visiting www.worldcommsawards.com

Since you're here...

...the Telecoms industry is characterised by constant change and evolution. That's why it's crucial for telecoms professionals to keep up-to-date with what is happening. Join 35,000+ of your peers and sign up to our free newsletter service today, to be in the know about what is going on. PLUS, as a member you can submit your own press releases!

See all membership options

Please enable JavaScript to view the comments powered by Disqus.

Newsletter signup

Quickly get on board and up to date with the telecoms industry