Who Owns Telkom Kenya? In-depth Answer

Who Owns Telkom Kenya? In-depth Answer

Telkom Kenya, one of the prominent players in the Kenyan telecom industry, has seen its ownership evolve over the years. As of October 2022, the Kenyan government has a firm grip on the reins of Telkom Kenya, owning the entire company. But how did we get to this point, and what led to this significant shift in ownership? Let’s delve into the details.

Telkom Kenya’s Ownership Evolution

The Helios Investment Era

Not too long ago, Telkom Kenya was in a joint venture, sharing ownership between Helios Investment Partners and the Kenyan government. In this arrangement, Helios held a majority stake, with 60%, while the government held the remaining 40%.

Helios Investment Partners, a private equity firm, played a pivotal role in steering Telkom Kenya through various challenges during their ownership tenure.

The Kenyan Government Takes the Helm

The big shakeup came in October 2022, when the Kenyan government decided to acquire the entirety of Telkom Kenya from Helios Investment Partners. This acquisition came at a hefty price of $50.4 million USD, marking a significant milestone in Telkom Kenya’s ownership history. It was a strategic move by the Kenyan government to regain complete control of this vital telecommunications entity.

Infrastructure Corporation of Africa LLC: The New Player

After the Kenyan government’s acquisition of Helios’s stake, the question arose: What’s next? In January 2023, a competitive process was initiated to determine the new owner of the 60% stake previously held by Helios Investment Partners. After a thorough evaluation, the United Arab Emirates-based Infrastructure Corporation of Africa LLC (ICA) emerged as the new owner.

Telkom Kenya’s Debt Scenario

Understanding the ownership changes is just one piece of the puzzle. Another critical aspect of Telkom Kenya’s current status is its debt. Let’s take a closer look at the company’s financial liabilities and the measures being considered to address them.

The Burden of Debt

As of March 31, 2023, Telkom Kenya was carrying a substantial debt load of KSh 59.3 billion, which translates to approximately $522 million USD. This amount marked a slight increase from KSh 57.8 billion ($515 million USD) at the end of December 2022.

Debt Composition

The majority of Telkom Kenya’s debt is in the form of bank loans, accounting for KSh 42.1 billion, or $373 million USD. Additionally, the company has outstanding bonds worth KSh 17.2 billion, equivalent to $149 million USD.

Impact on Telkom Kenya

High debt levels have been a cause for concern among investors and analysts, as they have weighed on Telkom Kenya’s profitability and hindered its ability to explore new growth opportunities. The burden of servicing debt can restrict the company’s ability to invest in innovation and expansion.

Seeking Solutions

To alleviate the pressure of debt, Telkom Kenya has been actively exploring various options. These options include asset sales and debt restructuring. However, as of now, the company has not made significant progress in reducing its debt levels.

The Government’s Proposed Intervention

Fast forward to October 2023, and the Kenyan government is contemplating an intervention. They are considering injecting KSh 7.2 billion, approximately $64 million USD, into Telkom Kenya to assist the company in clearing its debt. However, it’s important to note that this plan has not yet been finalized, and its implementation is subject to further deliberation.


The story of who owns Telkom Kenya is a testament to the ever-changing landscape of the telecommunications industry. The transition from Helios Investment Partners and the Kenyan government to full government ownership underscores the government’s commitment to a strategic shift in the company’s direction.

At the same time, Telkom Kenya’s debt situation highlights the challenges that companies in this sector can face. High levels of debt can hinder growth and innovation, and addressing these financial concerns is crucial for Telkom Kenya’s future success.

The proposed government intervention, if executed, could be a significant step in alleviating Telkom Kenya’s debt burden, potentially paving the way for renewed growth and stability. As the telecom industry continues to evolve, keeping an eye on ownership and financial developments is essential for understanding the direction of key players like Telkom Kenya.

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By Guides.co.ke

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