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Puzzle of UAE firm in Sh6b Telkom deal deepens

Telkom Plaza Head Office on Ralph Bunche Road.[Wilberforce Okwiri,standard]

In October 2023, the Cabinet rescinded a decision to buy back the majority shareholding in Telkom Kenya from Jamhuri Holdings Ltd, a subsidiary of London-based private equity firm Helios Investment Partners. 

This followed a joint parliamentary inquiry that found the government’s Sh6 billion buyout of Helios, conducted a few days before the 2022 General Elections, was unprocedural. 

The transaction did not receive the...