Nigerian billionaire Aliko Dangote and American investor David Rubenstein have made a strategic entry into Kenya’s tourism sector with the acquisition of Pollman’s Tours and Safaris, one of the country’s oldest and most established tour operators.
The acquisition was finalised in February through Alterra Capital Partners, a private equity firm backed by both Dangote and Rubenstein.
Alterra invested in Africa Travel Investments Limited, a Europe-based entity, which has acquired 100% of the issued share capital of Pollman’s Tours and Safaris Limited.
The Competition Authority of Kenya (CAK) approved the transaction unconditionally, stating that it is unlikely to negatively impact competition or raise public interest concerns within the local tour operator market.
Pollman’s Tours and Safaris Acquisition
Pollman’s, incorporated in Kenya, is known for its guided safari experiences and packages that are marketed globally through travel agents and tour operators.
The acquisition is expected to boost Pollman’s capacity and market reach, aligning with Alterra’s strategy of investing in high-growth potential businesses across the continent.
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According to CAK, the tour operator market in Kenya is characterized by low concentration, with over 300 active players, including Bonfire Adventures, Bountiful Safaris, and Cheetah Tours Ltd.
Given that Africa Travel does not currently operate in the Kenyan market, the Authority concluded that the acquisition would not alter market structure or reduce competition.
The review also considered the transaction’s potential impact on public interest factors such as employment, small and medium-sized enterprises, and the competitiveness of national industries.
CAK noted that no job losses are anticipated as a result of the deal.
“This transaction presents the acquirer as a growth-focused investor seeking to maximize the target’s potential,” the Authority said in a statement issued on May 7.
Who is Dangote
Aliko Dangote is a prominent Nigerian entrepreneur, widely recognized as the wealthiest individual on the African continent.
He is the founder and head of the Dangote Group, which stands as Africa’s leading producer of cement.
In 1977, he launched a modest trading company that would eventually evolve into a sprawling business empire.
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Over time, his company branched out into industries such as sugar and oil refining, gradually expanding its operations across various African nations. Today, the Dangote Group has a strong presence in countries including Benin, Ethiopia, Cameroon, South Africa, and Ghana.
Dangote’s financial success has earned him a place among the world’s wealthiest individuals.
As of now, he holds the 67th position on Forbes’ global rich list, although he previously reached as high as 23rd in 2014, making him the richest person of African heritage at the time.
Earlier this year, he launched a major sugar refinery in Kwame-Danso, Ghana, under Dangote Sugar Refinery Plc. The project aligns with Ghana’s “One District, One Factory” policy and aims to reduce the nation’s $162 million annual sugar import bill.
This latest move into Kenya shows his interest in diversifying investments across Africa’s high-growth sectors.
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