Kenya: Echotel International Proprietary authorized to acquire 80% of iWayAfrica Kenya
Wednesday, 22 May 2019 18:05
(Ecofin Agency) - South African Echotel International Proprietary Limited has received the approval of the Competition Authority of Kenya (CAK), for the acquisition of 80% stake in the capital of iWayAfrica Kenya. The volume of the investment was not disclosed in the statement announcing the approval.
iWayAfrica Kenya which offers internet and data storage services is a subsidiary of iWayAfrica.
In the above-mentioned statement, the CAK indicated that this investment will help Echotel capture 1.8% of the internet services sector in Kenya.
According to Delta Partners, the main internet services providers in Kenya are Telkom Kenya with 28% of market share, Liquid Telecom (25%), Safaricom (14 %) and Solutions Internet (13 %).
Chamberline Moko
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