Jubilee Holdings Acquires 10 Per Cent Additional Stake In SEACOM

NAIROBI, Kenya, Mar,7 – The Group Chairman of Jubilee Holdings Limited (JHL), Nizar Juma Monday announced that JHL has purchased an additional 10 per cent stake in SEACOM. This transaction increases JHL’s shareholding in SEACOM from 8.8 to 18.8 per cent.

“We are very pleased with this additional investment in SEACOM, which has been a key partner for the modernization of African businesses in a number of countries, and we have confidence in the business’s growth trajectory,” said Nizar Juma.

The additional investment is expected to continue to provide the company with stable and consistent returns as has been the case with existing investment amidst a digital transformation agenda across the region.

“JHL is acting through IPS Cable System Limited, which has acquired SEACOM Holding Ltd (Mauritius) shareholding amounting to 10 per cent,” he said.

SEACOM launched Africa’s first broadband submarine cable system along the continent’s Eastern and Southern coasts in 2009. To date SEACOM is considered to be the preferred partner for African businesses, network carriers, and service providers.

Through its ownership of Africa’s most extensive ICT data infrastructure – including multiple subsea cables and a resilient, continent-wide IP-MPLS network – SEACOM provides a full suite of flexible, scalable and high-quality communications and cloud solutions that enable the growth of the continent’s economy.

SEACOM leverages cloud technology to equip small to medium enterprises with costeffective, simple-to-integrate business tools that rapidly extend their reach. Greater efficiency is one enquiry away.

“The completion of this transaction lends credence to our continued need to diversify our investment priorities across key sectors of the economy. Our continued investments into infrastructure sub-sectors, namely energy and ICT are representative of this diversification and importantly manifest our desire to participate as an engine of economic growth of our region.”