South African IP-based services provider Internet Solutions (IS) has increased its stake in its Kenyan unit from 51% to 80%.
The company, a subsidiary of South Africa’s Dimension Data, said it decided to raise its shareholding and buy an option for…
South African IP-based services provider Internet Solutions (IS) has increased its stake in its Kenyan unit from 51% to 80%.
The company, a subsidiary of South Africa’s Dimension Data, said it decided to raise its shareholding and buy an option for the outstanding 20% stake following unprecedented growth in the East African market.
No financial details were revealed.
Loren Bosch, who was sales director at IS Kenya, has been appointed managing director for IS Kenya.
“Kenya forms the hub of the East African operation, as it is strategically well-placed to serve a number of other key countries such as Tanzania and Uganda. We also have plans to roll out into Rwanda and Burundi in the near future, and to enter the southern-Sudan region. This investment will ensure that we have the resources and capabilities to successfully roll out into these key regions and secure sustainable market share,” Bosch said.
IS acquired its first 51% stake in local Kenyan service provider iConnect in 2005, which was then rebranded IS Kenya.
The company, which was set up in 1993, was the first commercial ISP in South Africa. In addition to Kenya, it has investments in Angola, Ghana, Mauritus Mozambique, Nigeria, Tanzania and Uganda.
