Webafrica up for sale

Internet service provider, Webafrica is set to be sold, and some vibrant ISPs, which includes RSAWEB and Vox, have been tipped to seal a possible deal.

Webafrica, with Matthew Tagg as founder, began in 1997 as a web hosting company with an aim to serve consumers and little businesses.

14 years ago, Webafrica was launched in the ADSL market with its 30GB for R199 promo and instantly developed its broadband subscriber base. It hit it big as an effective fibre-to-the-home brand in its later years when fibre penetration was the centre of attraction in SA.

From 2005 till 2017, Webafrica provided its customers‘ web hosting and connectivity products and even secured the acquisition of several, lesser providers in this sector.

The company then decided to split the business into 2 different companies 2 years ago. They were named Gridhost for web hosting and Webafrica for connectivity.

Webafrica up for sale

Report has it that the connectivity business has struggled to earn any profit since its launch 14 years back, and the separation also became a means of exit for a few shareholders.

Webafrica’s company page claims that it has sixty thousand customers and half of this figure are fibre subscribers.

Webafrica is now set to be sold, and Standard Bank is in charge of the process with any interested buyer.

And even if Webafrica has not secured the expected profit, 2 credible sources recently told MyBroadband that the company’s projections are still not negative.

This positive news is believed to have triggered the interest of some ISPs, including RSAWEB, Afrihost, and Vox.

But as at now, things are still unclear as per the exact companies that are set to bid for the purchase of Webafrica.

Some huge telecommunications companies have also been touted to enter this race, according to rumours surrounding this news.

On the company’s stance on all this, Webafrica CEO Tim Wyatt-Gunning recently said the company is yet to be sold and “the owners of Webafrica remain the same in all aspects”

His few words, “We remain focused on the rapid exciting growth of our business.”

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