UK private equity firm, Helios Investment Partners, has announced the acquisition of a 60% shareholding in Telkom Kenya by Jamhuri Holdings Limited (JHL), a company owned 100% by HeIios Investors (a fund advised by Helios Investment Partners) following receipt of regulatory approval. The transaction also included an increase in the shareholding of the Government of Kenya (GoK) in Telkom Kenya from 30% to 40%.
Babatunde Soyoye, co-founder and Managing Partner of Helios Investment Partners, said “Helios is excited about the opportunity to work with all stakeholders to transform Telkom Kenya into a successful telecommunications operator in Kenya. We look forward to partnering with the company’s staff, customers, business partners, our co-shareholder GoK, as well as the Kenyan public in general to progress the development of the telecommunications sector in Kenya.”
(TOP: Treasury CS Henry Rotich – left – exchanges documents with a Helios rep at Treasury Building today during the conclusion of the talks).
Henry Rotich, CS, National Treasury, commenting on the transaction said: “We have seen the positive impact of Helios’ investments in other sectors of our economy and we hope and trust that their investment in TKL will have a transformative impact on the operations and standing of the company. We wish Helios well and look forward to interacting further, as we seek to find ways on how best we can achieve our mutual objective of growing TKL into a sustainable and prosperous business.”
Eddy Njoroge, Telkom Kenya board chairman said: “Telkom Kenya is delighted to welcome Helios into the anchor shareholding of the company. The company is confident that the combination of the Helios’ expertise, resources and experience and track record in investment across the continent will be invaluable contributors to Telkom Kenya’s transformation.”
Orange Group’s sale of its 70% stake means that the brand has exited the entire East Africa region as it already sold its shareholding in Orange Uganda in 2014 to Africell.
Helios Investment Partners is an Africa-focused investment firm managing funds totalling over US $3 billion. Helios’ diverse LP base comprises a broad range of the world’s leading investors, including sovereign wealth funds, corporate and public pension funds, endowments and foundations, funds of funds, family offices and development finance institutions across the US, Europe, Asia and Africa. Established in 2004, led and managed by a predominantly African team and based in London, Lagos and Nairobi, Helios has completed investments in countries across the African continent, including Nigeria, Ghana, Kenya, Tanzania, Angola, South Africa and Morocco. Helios’ portfolio companies operate in more than 35 countries in all regions of the continent. Helios bridges international capital and know-how to African talent and enterprise.
Apart from Telkom Kenya, Helios already has a stake in other Africa-based ICT firms including Wananchi Group, Interswitch, Helios Towers Africa, Mall for Africa, Africatel, Helios Towers Nigeria and Afsat Communications.