Essar Telecom is now expanding its footprint in East Africa. The Ruia family owned Essar Group has sealed a deal, acquiring a majority stake in UAE based Dhabi Group’s telecom assets in Uganda and Republic of Congo, for an undisclosed amount.
Essar's investment in Warid Telecom in Africa is a part of its strategic plans to grow its business in Africa. This deal is a reflection of Essar's plans to increase its presence in the Middle East and Africa regions.
According to Prashant Ruia, Essar Group chief executive, “This transaction with the Dhabi Group augments our successful launch of telecom services in Kenya under the brand ‘yu’ which was a stepping stone for Essar to expand its telecom footprint to the African continent.”
Essar Telecom Kenya has over 600,000 subscribers and expects this number to grow significantly as it completes its rollout across Kenya.
Essar holds a 33 per cent interest in Vodafone Essar, which is a joint venture with the Vodafone Group.