South African Internet company, iWay Africa has acquired Uganda’s Afsat Communications.
Ken Mwai, iWay’s general manager, said in comments published by local Ugandan media that the merger between Afsat Communications and Africa Online Uganda was concluded mid-July 2011 following negotiations that started in June 2010.
“The merger will help us accelerate our growth in this market,” says Mwai.
“It will enable us to provide a wider range of services at more affordable prices to Ugandans.”
Afsat has about 600 corporate clients that will benefit from the acquisition.
iWay Africa, which is owned by Telkom South Africa, is combing the technical capabilities of its predecessors including Africa Online, Afsat and MWEB Africa to offer more competitive internet services in 40 countries on the continent.
According to the Daily Monitor, investment in Africa’s ICT sector is expected to reach about Shs66.5 trillion (US$ by the end of 2011.