Wananchi Group picks new CEO in expansion plan

Former chief executuive officer Richard Bell (left), craft silicon CEO and founder Kamal Budhabhatti at a past event. Zuku has promoted chief operating officer Richard Alden to the helm, replacing Richard Bell who takes up a new role as a non-executive vice chairman of the board. Photo/FILE  NATION MEDIA GROUP

By OKUTTAH MARK

In Summary

• Wananchi Group, the operator of Zuku brand, has replaced its chief executive as the firm seeks new ideas to boost its share of a market dominated by DStv
• On Monday, Zuku promoted chief operating officer Richard Alden to the helm, replacing Richard Bell who takes up a new role as a non-executive vice chairman of the board

Wananchi Group, the operator of Zuku brand, has replaced its chief executive as the firm seeks new ideas to boost its share of a market dominated by DStv.

On Monday, Zuku promoted chief operating officer Richard Alden to the helm, replacing Richard Bell who takes up a new role as a non-executive vice chairman of the board.

Mr Alden, who brings with him 20 years of experience in technology, media and telecommunications sector in emerging markets of Europe and South America, becomes the fourth chief executive since the group was formed five years ago.

“I was appointed as a transition manager and I am stepping down to take the role of a vice chairman leaving the CEO position to be run by a professional,” said Mr Bell on Monday.

The change in the management comes at a time when Wananchi Group, is looking for fresh round of funding of between Sh4.3 billion ($50 million) and Sh8.7 billion ($100 million) for expansion of its cable business in Tanzania and Uganda before the end of next year.

The firm said it intends to raise the funds both locally and internationally, adding that it had drawn an expansion plan in these two markets.

The pay-TV provider already has cable TV services in Kenya, Uganda and Tanzania, but said that there were signs of increasing demand in Uganda and Tanzania hence the need to grow its cable footprint there.

Pay-TV providers including StarTimes have been unable to shake DStv’s dominance, especially in the premium market that MultiChoice serves with exclusive content like the English Premier League.