Jubilee Holdings Limited (JHL) has purchased an additional 10% stake in SEACOM. This transaction increases JHL’s shareholding in SEACOM from 8.8% to 18.8%.
This was announced by Jubilee Group chair Mr. Nizar Juma. In a statement, Mr. Juma commented, “We are very pleased with this additional investment in SEACOM, which has been a key partner for the modernization of African businesses in a number of countries, and we have confidence in the business’s growth trajectory.
This additional investment will continue to provide us with a stable and consistent return as has been the case with our existing investors as well as consolidate our position at the center of digital transformation in our region.”
JHL is acting through IPS Cable System Limited, which has acquired SEACOM Holding Ltd (Mauritius) shareholding amounting to 10%.
SEACOM launched Africa’s first broadband submarine cable system along the continent’s eastern and Southern coasts in 2009. Today SEACOM is the preferred partner for African businesses, network carriers, and service providers.
GSMA Research Finds Mid-Band 5G Could Deliver $610B GDP Growth By 2030
Through its ownership of Africa’s most extensive ICT data infrastructure – including multiple subsea cables and a resilient, continent-wide IP-MPLS network – SEACOM provides a full suite of flexible, scalable, and high-quality communications and cloud solutions that enable the growth of the continent’s economy.
SEACOM leverages cloud technology to equip small to medium enterprises with cost-effective, simple-to-integrate business tools that rapidly extend their reach. Greater efficiency is one inquiry away.
Mr. Juma added “The completion of this transaction lends credence to our continued need to diversify our investment priorities across key sectors of the economy. Our continued investments into infrastructure sub-sectors, namely energy and ICT are representative of this diversification and importantly manifest our desire to
participate as an engine of economic growth of our region.”
Late last year
EACOM has announced that it has completed the 100% acquisition of Hirani Telecom’s metro fibre network. Hirani Telecom is one of Kenya’s fastest-growing triple-play service providers, and the largest last-mile provider in the region.
The network will be incorporated into SEACOM’s existing metro network in the capital of Kenya, Nairobi and will be under its full control.
According to a release, the acquisition was part of SEACOM’s ongoing strategy in the region to grow its on-net capabilities, and provide its enterprise customers with world-class connectivity.
