Rapid Communications acquires 16% stake in Nationlink; receives mobile banking permit

18 Sep 2014

Kenyan e-commerce specialist Rapid Communications has acquired a 16% stake in Somalia-based Nationlink, according to Kenya’s Capital FM. The Nairobi-based firm, which is currently responsible for managing Nationlink’s content management system (CMS) platform, claims that it has been awarded a mobile banking permit, and seeks to take advantage of the Somali remittance business, which it estimates is worth as much as USD2 billion annually.

While Nationlink’s full shareholder structure is unclear, TeleGeography’s GlobalComms Database notes that the company is affiliated with the Dubai-based Somali Telecom Group (STG). In 2012 BinTel Ltd, based in Lebanon, acquired a 25% stake in Nationlink Investment Somalia, which owns the majority share in Nationlink Somaliland and Nationlink Somalia.

Somalia, Nationlink Telecom