Airtel eyes waiver on the 30pc local ownership rule
Summary
Airtel Africa is considering seeking an extension or exemption from rules requiring it to cede a 30 percent stake in local subsidiaries to Kenyan investors by March 2024.
Sidestepping the ownership rules could, however, force the multinational to pay $20 million (Sh2.1 billion) for its expired licence.
Tuesday July 13 2021
By VICTOR JUMA
Summary
Airtel Africa is considering seeking an extension or exemption from rules requiring it to cede a 30 percent stake in local subsidiaries to Kenyan investors by March 2024.
Sidestepping the ownership rules could, however, force the multinational to pay $20 million (Sh2.1 billion) for its expired licence.
Airtel risks forced sale in expired licence row
Friday April 30 2021
By ELIZABETH KIVUVA
Summary
Joe Mucheru, the ICT Cabinet Secretary, said Airtel must first renew its licence that expired in February 2015 before entering talks with the government for a waiver of the local ownership rule.
The State has ordered Airtel Kenya to pay $20.025 million (Sh2.15 billion) for its expired licence to be exempted from a rule that requires telecoms operators to sell a 30 percent stake to local investors within the next three years.
Joe Mucheru, the ICT Cabinet Secretary, said Airtel must first renew its licence that expired in February 2015 before entering talks with the government for a waiver of the local ownership rule.