by Keka Araújo
Could 13, 2025
The deal underscores important non-public fairness confidence in the way forward for Kenya’s tourism sector, a key contributor to the nationwide economic system
Africa Journey Investments, a tourism-focused agency with monetary backing from Nigerian industrialist Aliko Dangote, has acquired Pollman’s Excursions and Safaris, Kenya’s oldest tour operator. The deal underscores important non-public fairness confidence in the way forward for Kenya’s tourism sector, a key contributor to the nationwide economic system.
The Competitors Authority of Kenya (CAK) had beforehand authorized Africa Journey Investments’ acquisition of 100% of Pollman’s issued share capital.
In keeping with a CAK assertion, “With regard to the proposed transaction, post-merger, the market share of the merged entity won’t change because the goal and the acquirer is just not in related enterprise and due to this fact the construction and focus of the markets for tour operators in Kenya won’t be affected.”
This acquisition follows a February funding by Alterra Capital, a personal fairness fund supported by each Dangote, Africa’s wealthiest particular person and chairman of Dangote Cement, and American billionaire Dave Rubenstein, into ARP Africa Journey Group, the mum or dad firm of Pollman’s. In keeping with the CAK, the merger won’t affect the aggressive panorama of Kenya’s tour operator market, which embody Bonfire Adventures and Bountiful Safaris.
The regulatory physique additionally decided that the acquisition wouldn’t negatively have an effect on jobs or the competitiveness of smaller companies inside the business.
The CAK acknowledged, “The authority additionally concluded the deal poses no risk to jobs or small enterprise competitiveness, two of the important thing public curiosity considerations beneath Kenyan merger regulation. The events indicated no employment losses would outcome from the acquisition.”
In keeping with Forbes, the Nigerian mogul is value $23.2 billion. Dangote’s intensive enterprise empire consists of Dangote Cement, the continent’s largest cement producer with operations spanning 10 African nations. His investments additionally lengthen to fertilizer manufacturing in Nigeria and the just lately operational Dangote Refinery.
The acquisition of Pollman’s by a Dangote-backed entity indicators a diversification into Kenya’s promising tourism market.
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