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. The transaction, which includes veto rights, marks a significant milestone in strengthening foreign investment in Kenya’s telecommunications infrastructure sector. Atlas Tower Kenya, a leading developer and operator of telecommunications towers, plays a critical role in expanding network coverage and connectivity across the country.
According to the CAK, the acquisition was assessed and found unlikely to substantially lessen competition in the telecommunications infrastructure market or raise any public interest concerns. This clearance underscores the Authority’s commitment to promoting a balanced and transparent investment environment that safeguards fair competition while supporting Kenya’s digital and economic growth.
The investment by STOA represents growing global confidence in Kenya’s infrastructure and digital transformation agenda. As a long-term impact investor focused on sustainable infrastructure and energy projects in emerging markets, STOA’s entry into Atlas Tower Kenya signals continued momentum toward developing robust, reliable, and inclusive digital connectivity solutions. This partnership is expected to inject both capital and expertise, accelerating the deployment of modern telecommunications infrastructure across Kenya.
Atlas Tower Kenya has been instrumental in developing and maintaining key telecommunications infrastructure, supporting operators and service providers in extending their network reach to underserved regions. The new investment will enable the company to scale its operations, increase the density of tower sites, and improve the quality of service delivery nationwide. This aligns with Kenya’s vision of achieving universal access to high-speed connectivity as part of its digital economy strategy.
The CAK’s approval of this transaction demonstrates Kenya’s attractiveness as a regional hub for investment in digital infrastructure. By fostering collaborations between local and international investors, Kenya continues to pave the way for sustainable growth, enhanced connectivity, and technological advancement that supports businesses and communities alike.
