Liquid Telecom has completed the acquisition of the remaining 50 per cent stake in its Zambian subsidiary, CEC Liquid Telecom, from Copperbelt Energy Corporation PLC.
The acquisition will help facilitate the group’s digital transformation strategy through an enhanced operating model and the benefit of 100 per cent of the cash flows from CEC Liquid Telecom and its retail arm, Hai Zambia.
“The acquisition of CEC Liquid Telecom represents another major milestone towards the delivery of Liquid Telecom’s vision to build Africa’s digital future,” said Nic Rudnick, Liquid Telecom Group CEO.
“We have continued to expand the footprint of our network and broadened our award-winning product offering. These actions reinforce our position as a leader in cloud networking and digital transformation. We look forward to bringing the benefits of this acquisition to our valued clients across the region.”
Liquid Telecom and CEC first entered into the joint venture in 2011, and during this time it has invested in the rollout of a fibre optic network across Zambia that today delivers some of the country’s and Africa’s fastest broadband speeds.
Serving a range of wholesale, enterprise and retail customers, CEC Liquid Telecom recently launched a leading 4G LTE network in all 10 provinces of the country. Earlier this year, the company also began offering Microsoft Office 365 to businesses of all sizes in Zambia accessed through its leading-edge fibre network.
The Zambian operations will form a key part of Liquid Telecom’s focus on the Southern Africa region, alongside Zimbabwe, Democratic Republic of Congo and Botswana.
Liquid Telecom Zambia will sit under the leadership of the new Regional CEO of Southern Africa, Wellington Makamure.