Ratio Magazine :: The Inside Track to East Africa’s Economies - Kenya: Press Releases: France Telecom Reaffirms its Commitment to Kenya

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Kenya: Press Releases: France Telecom Reaffirms its Commitment to Kenya

Monday, 19 April 2010

France Telecom wishes to clarify its position following recent media reports regarding its participation in Telkom Kenya and its overall business strategy in Kenya.

The Group confirms and maintains its commitment to Kenya as a long-term strategic investor through its participation in Telkom Kenya. France Telecom is fully satisfied with the work that has been undertaken in Kenya since it became the majority shareholder of the country’s historic telecommunications operator in December 2007.

Since that time, France Telecom has been a major investor in Kenya, spending close to EUR200m on the maintenance and development of the network, and on the development of high-quality offers and services for its customers. The Group notably played a major role in the launch of mobile telephony operations under the Orange brand-name in September 2008. This launch represents a landmark that transformed Telkom Kenya into the country’s first integrated operator able to offer its customers convergent services in mobile, fixed and internet telecommunications.

France Telecom maintains full confidence in the business strategy that Telkom Kenya has developed and is satisfied that the telecommunications market in the country leaves considerable potential for the company to continue to attract new customers and to see profitable growth.

It should also be noted that Telkom Kenya has turned around and its results for the 1st quarter of 2010 were above the budget further demonstrating an improved company performance. This performance reflects the Group’s commitment to transform Telkom Kenya into a first class telecommunications company to not only meet but exceed the expectations of our customers.

At the end of 2009, the France Telecom Group had over 50 million customers across 18 countries in Africa and the Middle East. The region represents a key part of the Group’s overall strategy for development and Stephane Richard, the CEO of France Telecom, recently underlined this ambition through his announcement that the Group aims to double its revenues in the region

within five years. To achieve this, France Telecom will certainly be led to invest heavily across the continent. Within this strategy, Kenya will play a pivotal role in the development of the Group’s presence in East Africa.

The ongoing shareholder discussions with the Government of Kenya concerning the share purchase agreement are part of the normal process for any important acquisition, and especially one in which the acquired company is undergoing a profound transformation. The ongoing discussions will in no way affect our service delivery and the day-to-day operations of Telkom Kenya.

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