AccessKenya exempted from 20% local ownership rule

3 Jul 2013

Dimension Data’s bid to acquire AccessKenya and delist it from Nairobi Securities Exchange (NSE) has received a boost after the government provisionally agreed to exempt the broadband provider from the 20% local ownership rule, Business Daily Africa reports. Once formally approved, the waiver will make AccessKenya the second major firm to be exempted, after India’s Bharti Airtel, which owns 95% of Airtel Kenya. If permission had been denied, AccessKenya CEO Jonathan Somen intended to re-purchase 20% of the firm’s shares.

Kenya, AccessKenya, Dimension Data