Bharti Airtel required to sell 15% of Airtel Kenya by April 2013

16 Oct 2012

Francis Wangusi, the director general of the Communications Commission of Kenya (CCK), has told local newspaper Business Daily that Bharti Airtel must sell a 15% stake in Airtel Kenya to a local shareholder in order to remain compliant with foreign ownership rules. At least 20% of any telecoms network operator must be held by a domestically registered business or Kenyan national, and although Bharti owns 80% of the cellco, the other local shareholder Naushad Nerali was granted permission to sell a 15% stake to foreign shareholders. According to the newspaper, Bharti was given a three-year window to find another local shareholder, with the deadline due to expire in April 2013. The company’s operating concession will not be renewed if no sale is forthcoming.

Kenya, Airtel Kenya, Bharti Airtel