During recent discussions regarding Airtel Kenya's plans for 5G rollout and expanding its telecoms network, Segun Ogunsanya, Group CEO of Airtel Africa, announced that the company intends to list its Kenyan subsidiary on the Nairobi Stock Exchange (NSE) to comply with existing regulations. The Kenyan government, under the Information and Communication Technology Sector Policy 2020, implemented a requirement stating that only companies with a minimum of 30% Kenyan capital can offer ICT services in the country.
Airtel, which has been benefiting from a waiver since 2013, is required to meet the local shareholding threshold within three years of the notice issued on March 25, 2021. Discussions with the regulator have been ongoing since February as Airtel seeks to ensure local participation in the sector, with options including an IPO or selling at least 30% of its capital to a Kenyan investor. President William Ruto announced plans to repeal the shareholding rule at a trade summit in Nairobi in April, aiming to attract foreign investment to Kenya's ICT sector, but an official decision has yet to be made.
