The Competition Authority of Kenya (CAK) has approved five significant mergers and acquisitions that cut across key sectors of the economy, including energy, insurance, cement manufacturing, real estate, and financial services. The approvals, published in the Kenya Gazette on September 26, 2025, were issued under Section 46(6)(a)(ii) of the Competition Act, empowering CAK to authorize transactions that do not distort or hinder fair competition in Kenya’s markets.
One of the most notable approvals involves the energy sector, where CAK cleared Auron Energy E&P Limited, an affiliate of Gulf Energy, to acquire 100% of the shareholding in Tullow Kenya B.V. This marks the complete exit of Tullow Oil from Kenya after 14 years of exploration and investment in Turkana. The transaction, valued at US$120 million (Ksh15.5 billion), transfers ownership of key oil blocks to Gulf Energy, positioning the company to spearhead Kenya’s long-awaited entry into oil production.
In the insurance space, Bima Holdings Limited has received approval to acquire control of Minet Mauritius, the parent company of Minet Kenya Insurance Brokers. This acquisition, backed by private equity firm Adenia Partners, will give Bima indirect control over Minet’s subsidiaries across Africa, strengthening its footprint in the insurance and risk advisory market. Minet, a long-standing partner of Aon, brings with it a strong pan-African presence and expertise in risk solutions, which Bima seeks to expand further.
The cement industry has also seen a transformative transaction, with Savannah Cement 2025 Limited, a consortium of leading Kenyan millers, acquiring the distressed Savannah Cement for Ksh3.8 billion. This acquisition is expected to revive the company, which had been placed under receivership in 2023 due to financial challenges. The consortium, made up of Mombasa Maize Millers, Kitui Flour Millers, and Eldoret Grains Limited, is set to inject new capital and management strategies to restore the manufacturer’s competitiveness in the local and regional cement market.
In real estate, Kashia Services Limited has been granted approval to acquire the entire shareholding of Stonehill Developments Limited, a company recognized for its high-end residential and commercial developments. This move strengthens Kashia’s positioning in the premium real estate market, expanding its portfolio and capacity to deliver modern developments. At the same time, Batian Income Properties LLP, managed by GenAfrica Asset Managers, has acquired 100% of Riverside Towers Limited, a prime commercial real estate player in Nairobi’s Westlands and Riverside areas. This acquisition adds significant value to Batian’s growing real estate investment portfolio.
The series of approvals reflect Kenya’s dynamic investment landscape, where local and international players are increasingly positioning themselves in strategic industries. By facilitating these transactions, CAK continues to play a central role in ensuring market stability while enabling business growth and innovation. The approved acquisitions are expected to unlock fresh capital, foster job creation, and sustain competitiveness across multiple sectors of the Kenyan economy.
