Richard Alden, the former CEO and co-founder of Spanish cable operator Ono, has been appointed at the head of Wananchi Group, a Kenya-based media and telecoms company.
He replaces Richard Bell, who had been CEO since 2011. Bell will reportedly remain as…
Richard Alden, the former CEO and co-founder of Spanish cable operator Ono, has been appointed at the head of Wananchi Group, a Kenya-based media and telecoms company.
He replaces Richard Bell, who had been CEO since 2011. Bell will reportedly remain as non-executive vice chairman of the board.
Alden joins Wananchi from US software company TOA Technologies, where he was president for Europe. Prior to that, he co-founded Ono in 1998 and was its CEO until 2009.
In July last year, Wananchi secured US$140m to finance its broadband internet rollout across East Africa. It received a US$68m equity injection from its investors, including Liberty Global, Oppenheimer Funds, Sarona Asset Management, Emerging Capital Partners, and East Africa Capital Partners.
It also signed a US$72m debt investment with Overseas Private Investment Corp, a US government’s development finance institution.
