Safaricom, Airtel and Telkom Kenya will pay Sh2.5 billion each for the 4G spectrum licence fee that the Communications Authority of Kenya (CA) has said it will start issuing next month upon payment of the fees.
France's Orange has completed the sale of its entire 70 percent stake in Orange Kenya to private equity firm Helios Investment Partners for an undisclosed amount. Kenya's Treasury Cabinet Secretary Henry Rotich announced the completion of the transfer of the majority shareholding of Telkom Kenya from Orange East Africa (OrEA) to Jamhuri Holdings (JHL), a company owned by Helios Investors III, a fund advised by Helios Investment Partners. Helios has acquired 60 percent of Orange Kenya and the government has raised its stake in Orange Kenya to 40 percent from 30 percent.
Kenya's central bank cut its Central Bank Rate (CBR) by 100 basis points to 10.50 percent, saying inflation is expected to decline and remain within the target range in the short term, which means "there was policy space for an easing of monetary policy while continuing to anchor inflation expectations."
French retail giant Carrefour is set to open its first store in the country today, stepping up competition for shoppers in the country’s lucrative but under-developed supermarket industry.