Airtel to exit Kenya just months after NASA endorsement
Airtel is set to exit the Kenyan market.
The exit will begin by Bharti Airtel ceding at least 20 per cent of its shares in Airtel Kenya to local investors before a full exit from the country over strict conditions by the industry regulator.
Bharti Chairman Sunil Mittal last week disclosed to the Indian media that they plan to exit Kenya, Tanzania and Rwanda and were currently in active negotiations exploring a foray of intra-country purchase, sale or merger.
However, the Communications Authority of Kenya (CAK) has said Airtel was yet to formally inform them of these plans of exit.
“Airtel has not shared with us any intention to exit the market but if they want to exit there are several processes spelt out in the regulations that they can follow,” said CAK Director-General Francis Wangusi as reported by the Standard.
“We do not have any restrictions as long as all the laid down provisions are followed,” he added.
“In the first place, if they are selling to foreign investors they will need to ensure at least 20 per cent of the shares remain locally.”
The exit of the operator from the Kenyan market will be another blow to supporters of the NASA opposition who have embraced it after boycotting Safaricom products.