Dandemutande mergers with iWayAfrica and AfricaOnline

DANDEMUTANDE Investments (Private) Limited, a licensed Internet Access Provider operating as Utande
and uMAX, has entered into a definitive agreement with iWayAfrica.
Zimbabwe (Private) Limited and Africa Online (Private) Limited, two of Zimbabwe’s leading Internet
Service Providers, to merge their businesses under the Dandemutande company structure and licence.
iWayAfrica and Africa Online are both owned by Gondwana International Networks, a pan-African
Telecommunications and ICT service provider based in South Africa. Established in 2003, Gondwana
International Networks has a core operational focus on the design and implementation of broadband
access networks and maintains a presence in 44 countries across Africa.
Under the terms of the transaction, Dandemutande shareholders will retain 51% of the combined
company and Gondwana International Networks will own 49%. Masawara Plc, the existing majority
shareholder in Dandemutande, will retain its stake in the new combined business.
Mr. Olatunde Akerele, Chairman of Dandemutande commented that “The merger reflects both parties
commitment to drive sustainable growth by creating Zimbabwe’s leading Internet Access and Service
Provider. Together Dandemutande, iWayAfrica and Africa Online have an unparalleled 57 years of
operational experience in Zimbabwe. We will leverage off this going forward”.
The new combined entity will offer a wider portfolio of services across different technology platforms
including fibre, satellite and wireless thereby meeting customer requirements for services beyond
traditional connectivity. Managed services, cloud services from its carrier neutral data centre, VoIP and
rural branch connectivity will be offered under a single service provider umbrella.
Whilst the boards of both companies have approved the business combination, the transaction remains
subject to regulatory approval. It is expected to close in the second quarter of 2015.