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.
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.
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