NAIROBI (Reuters) - Kenyan telecoms firm Wananchi Group plans to launch a pay satellite television service in July to rival South Africa-based Naspers' DSTV across east Africa after getting new capital injection, its head said on Tuesday.
Last week, Liberty Global Inc., one of the world's largest cable companies, Oppenheimer Funds, and Sarona Asset Management, a Canadian-based emerging markets fund manager, are the new investors who injected $57.5 million into the firm.
Apart from Kenya, Uganda and Tanzania, Wananchi will also roll out the pay television service in seven other countries including Ethiopia, Eritrea, South Sudan, Rwanda, Burundi, Malawi and Somalia.
"In the ten countries we are targeting, payTv penetration is presently at less that 1 percent," said Richard Bell chief executive officer at Wananchi Group.
The firm is already conducting a satellite transmission trial run.
The unlisted firm is owned by venture capital firm East Africa Capital Partners, offers broadband internet, cable television and voice telephony via fibre networks.
Last month, Wananchi said in planed to invest an extra $100 million to increase the rollout of its services across east Africa.
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