FT will spend KES8bn a year in Kenya

2 Sep 2008

France Telecom (FT) has announced that it intends to invest at least KES8 billion (USD112 million) a year into Telkom Kenya as it works to transform the company into Kenya’s leading integrated telecommunications provider. Telkom’s deputy CEO Peter Reinartz told Reuters: ‘Our investment rate today, for 2008, 2009 and years to come is around KES8-KES10 billion per year.’ A consortium led by the French telco paid USD390 million last year for a 51% stake in Kenya’s dominant wireline operator. It has so far invested KES5 billion upgrading Telkom’s infrastructure and acquiring additional satellite capacity for broadband connectivity. Telkom Kenya plans to launch a GSM cellular network within the next few months, with services to be offered under FT’s Orange brand.

Kenya, Orange Group, Telkom Kenya