Africa Travel Investments, a tourism investment firm supported by Nigerian billionaire Aliko Dangote, has acquired Kenya’s oldest tour operator, Pollman’s Tours and Safaris. This move represents a growth-focused investment that indicates a strong belief in the growth prospects of Kenya’s tourism sector.
The Competition Authority of Kenya (CAK), the regulatory body mandated to enforce competition and consumer protection laws in Kenya, cleared the acquisition unconditionally, noting that it would not negatively impact competition in Kenya’s tour operator market.
“This approval has been granted based on the finding that the transaction is unlikely to negatively impact competition in the market for tour operators in Kenya, nor elicit negative public interest concerns,” CAK wrote in a statement.
The regulatory body also noted the deal would not likely lead to job losses. “As per the parties’ submissions, this transaction is not expected to raise public interest concerns. Specifically, with regard to employment, the parties have submitted that the proposed transaction is not anticipated to lead to the loss of any job,” CAK noted.
This acquisition comes after an African-focused private equity fund, Alterra Capital Partners, co-owned by Dangote, acquired a majority ownership in Java House, a leading coffee chain in Kenya, Rwanda, and Uganda, earlier in the year.
Kenya’s tourism sector has experienced remarkable recovery and growth. In 2024, international arrivals reached 2.4 million, a 15 percent increase from 2023. Earnings from the sector shot up by nearly 20% to Ksh 452.20 billion in the same period. The rebound has been attributed to product diversification, aggressive marketing, and improved air connectivity.
While Aliko Dangote’s recent acquisitions in the tourism and food sectors are prominent, he previously considered other investment opportunities in Kenya. In the past, there were plans to set up cement plants in the country, though those plans encountered challenges. Dangote’s current investments through Alterra Capital Partners indicate his renewed interest in Kenya’s economic potential.
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