The Competition Authority of Kenya (CAK) has granted unconditional approval for France-based impact investment fund STOA S.A. to acquire a 31.03% minority shareholding in Atlas Tower Kenya Limited.
This stake includes veto rights, giving STOA influence over key decisions within the company, which specialises in developing and maintaining telecommunications towers and related infrastructure nationwide.
CAK’s review concluded that the transaction is unlikely to significantly reduce competition in Kenya’s telecommunications infrastructure sector or pose any public interest concerns. This approval signifies a positive step towards strengthening Kenya’s digital infrastructure investment climate, as foreign investors increasingly collaborate with local companies to boost network capacity and connectivity across the country.
