The Competition Authority of Kenya (CAK) has approved a series of mergers and acquisitions involving various companies.
In a Gazette Notice dated September 26, 2025, the Authority announced the authorization of five major transactions involving the transfer of ownership or control in key firms.
The affected companies operate across the energy, insurance, cement manufacturing, real estate, and financial services sectors.
The approvals were issued under Section 46(6)(a)(ii) of the Competition Act, Cap. 504, which empowers the CAK to authorize mergers and acquisitions that do not negatively impact competition within Kenya’s markets.
CAK Approves Acquisition of Tullow Oil, Savannah Cement, and 3 Other Companies
Among the most popular companies is Tullow Company, which CAK cleared Auron Energy E&P Limited, an affiliate of Gulf Energy, to acquire 100% of the issued share capital of Tullow Kenya B.V., a subsidiary of the multinational oil and gas company Tullow Oil.
“Pursuant to the provisions of section 46(6) of the Competition Act, Cap. 504 of the Laws of Kenya (the Competition Act), it is notified for general information, that in exercise of the powers conferred upon the Competition Authority of Kenya by Section 46(6)(a)(ii) of the Competition Act, the Competition Authority of Kenya has authorized the proposed transaction as set out herein,” read the notice in part.
Also Read: Investors Flood Kenya as Capital Markets Authority Licenses Four New Companies
On Friday, September 26, Tullow Oil completed the sale of its entire Kenyan business to Auron, sealing its exit from the country after 14 years.
The British oil explorer announced it had received the first tranche of US$40 million from the US$120 million deal (Ksh15.5 Billion), with proceeds earmarked to strengthen its balance sheet.
The sale transfers Tullow’s entire stake in Tullow Kenya BV, which holds working interests in Blocks 10BB, 13T, and 10BA in Turkana, to Gulf Energy.
Bima Holdings Gains Control of Minet Mauritius
In the insurance and risk advisory space, Bima Holdings Limited received approval to acquire control of Minet (Mauritius) Holdings Limited, the parent company of Minet Kenya Insurance Brokers.
In the transaction, Bima is indirectly acquiring the shareholding in the subsidiaries of Minet Mauritius, including those incorporated in Botswana.
Bima is a newly incorporated special purpose vehicle established specifically for the purposes of the proposed transaction.
It is duly incorporated and registered under the laws of the Republic of Mauritius. Bima is owned by Adenia Capital (V) LP and Adenia Capital (V) SA Partnership (collectively referred to as Fund V), a closed-end private equity fund controlled and managed by Adenia Partners Limited (Adenia Partners).
Adenia Partners is a private equity firm specializing in growth opportunities across Africa, with its headquarters located in Mauritius. (Adenia Partners, together with its controlled funds and affiliates, is collectively referred to as Adenia.)
Minet, a well-established partner of global insurance broker Aon, has been operating in multiple African markets.
Also Read: Tullow Oil Exits Kenya After Ksh15.5 Billion Buyout
Consortium Approved to Acquire Savannah Assets
The CAK also approved the acquisition of the business and assets of debt-ridden Savannah Cement Limited by Savannah Cement 2025 Limited.
Savannah Cement 2025 Limited is a consortium of Kenyan flour and grain millers that acquired the business and assets of the company for Ksh 3.8 billion (US$29 million), in a deal finalized in late August 2025.
The consortium comprises investors affiliated with Mombasa Maize Millers, Kitui Flour Millers, and Eldoret Grains Limited.
The acquisition aims to rescue the cement manufacturer from its financial difficulties, which led to its placement under administration and receivership by KCB Bank Kenya and Absa Bank in 2023
In the real estate development sector, Kashia Services Limited has been granted permission to acquire the entire issued share capital of Stonehill Developments Limited, a company renowned for its upscale residential and commercial developments.
Kashia Limited, trading as Cashia, is a Limited Liability Company incorporated in Kenya, authorized and regulated by the Capital Markets Authority as a Payment Service Provider.
Meanwhile, Stone Hill Kenya Limited is a prolific Trading House that deals with the supply of industrial automation and other associated systems covering equipment, spares, and the industry’s pre-requisite accessories and associated needs.
Meanwhile, Batian Income Properties LLP has been granted authority to acquire 100% of the issued share capital of Riverside Towers Limited, a company associated with prime commercial real estate in Nairobi’s Westlands and Riverside areas.
Batian Property Fund, managed by GenAfrica Asset Managers, is a real estate investment fund that pools investor capital to acquire and manage a portfolio of commercial, residential, and industrial properties, aiming to provide investors with returns from rental income and capital appreciation.
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Haha, so the Competition Authority is just the cool kid in the playground saying yup, those five companies can merge, go nuts! across all sectors. Sounds like Kenyas version of whatever, just dont break the markets cool vibe. Tullow Oil finally slapping a For Sale sign after 14 years is like saying, Nah, Ive had enough of this Kenyan party. Good riddance! Meanwhile, Bima Holdings swoops in like a hungry shark in the insurance waters, and Savannah Cement gets a lifeline from millers – basically, Kenyas version of finders keepers. Very interesting times in the Kenyan business jungle! 🦁💼Free Nano Banana
Haha, the CAK seems busy doling out approvals like theyre running a frantic charity auction! Here, take Tullow Oil, the insurance bits, Savannah Cements debts, some fancy Nairobi property – all with a competitive edge guaranteed! Cant wait to see how the market reacts to this flurry of youre now owned by…. Guess someones feeling generous, or just really needs to offload some assets before the teas too hot! What a whirlwind of Kenyan business dealings!ai ease watermark remover
Haha, Kenyan markets are just doing some wild dances! CAK seems like the cool DJ, spinning mergers left and right – Tullow Oil out, Savannah Cement’s new partners in crime, Bima Holdings looking to expand its insurance empire, and property deals hotter than Nairobi’s midday sun. It’s like a never-ending game of who’s buying whom? while the Competition Act watches like a stern teacher ensuring no one trips and falls (i.e., destroys competition). Guess someone’s feeling the pressure to merge before the next round of eCitizen port charges! Keep the deals coming, it’s the only kind of competition some of us are excited about! 🤑💼🚀アイム ノット ヒューマン エンディング