This archive report was first published on 5 August 2020.
On August 5, 2020, Airtel Kenya and Telkom Kenya announced that they would no longer pursue their merger plans, citing frustration with the lengthy process.
The two companies had entered into an agreement in February 2019 to combine their businesses in Kenya, but the completion of the transaction was subject to regulatory approvals.
Airtel Africa CEO and MD Raghunath Mandava stated that the company remains committed to growing its business in Kenya, serving over 14 million customers and achieving double-digit revenue growth in the last quarter.
Despite the abandoned merger plans, Airtel says it will focus on winning more customers, investing in its network, and expanding its mobile money business.
Earlier reports had suggested that Safaricom was opposed to the merger, but Michael Joseph, then CEO of Safaricom, denied the allegations and stated that the company supported the merger between Telkom and Airtel Kenya.
