Dangote-backed firm acquires Kenya’s oldest tour operator

• Aliko Dangote and David Rubenstein person entered the Kenyan tourism marketplace by acquiring Pollman's Tours & Safaris
• Dangote, known for expanding into overseas markets, has besides launched a large sweetener refinery successful Ghana arsenic portion of his determination integration efforts
• Additionally, Dangote Cement operates successful 10 African nations, further solidifying Dangote's power crossed the continent

Legit.ng writer Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

With the acquisition of Pollman's Tours & Safaris, Nigerian concern magnate and Africa's richest man, Aliko Dangote, and chap billionaire David Rubenstein person entered the Kenyan tourism market.

Cameroon, Ethiopia, Ghana, Senegal, Sierra Leone, and South Africa are among the African countries served by Dangote Cement. Photo Credit: Dangote Group
Source: UGC

In February, American billionaire David Rubenstein and the Aliko Dangote-backed backstage equity steadfast Alterra Capital invested successful ARP Africa Travel Group, which operates Pollman's.

The steadfast precocious made the determination to bargain Pollman's Tours and Safaris, Kenya's oldest circuit operator, to participate 1 of the country's biggest markets: tourism.

“With respect to the projected transaction, post-merger, the marketplace stock of the merged entity volition not alteration arsenic the people and the acquirer are not successful akin businesses, and truthful the operation and attraction of the markets for circuit operators successful Kenya volition not beryllium affected,” the regulator said successful a statement.

According to the Competition Authority of Kenya (CAK), determination volition beryllium nary alteration successful the constitution and attraction of Kenya's decentralised circuit relation sector, which is location to implicit 300 businesses, including Bonfire Adventures and Bountiful Safaris.

According to Kenyan merger regulations, the regulator besides concluded that the transaction did not airs a menace to jobs oregon tiny firms' quality to compete, 2 important nationalist involvement concerns.

The Kenyan Wall Street claimed that the parties stated that nary jobs would beryllium mislaid arsenic a effect of the deal.

Dangote’s operations successful different African countries

Working successful overseas markets is thing caller to Aliko Dangote. Aliko Dangote precocious extended his agro-industrial conglomerate into Ghana with the opening of a large sweetener refinery facility successful Kwame-Danso, Bono East Region, successful a akin effort astatine determination integration.

Dangote Sugar Refinery Plc is backing the venture, which is simply a bold effort to articulation Ghana's $162 cardinal yearly sweetener import marketplace and enactment the government's "One District, One Factory" industrialisation plan.

The state-of-the-art plantation volition prolong a 25,000-hectare irrigated plantation that volition process 12,000 tons of sugarcane each day.

The works volition nutrient ethanol and molasses, 2 high-value by-products successful summation to refined sugar, creating opportunities successful the biofuel and agro-processing sectors.

Photo Credit: David Rubenstein
Source: Getty Images

The Nigerian entrepreneur has sold petroleum products to Saudi Arabia, North America, and, astir recently, Turkey since the opening of his lipid refinery.

Just 10 African nations—among them Cameroon, Ethiopia, Ghana, Senegal, Sierra Leone, and South Africa—are served by Dangote Cement.

Aliko Dangote clarifies Dangote refinery’s narration with NNPCL

Legit.ng reported that Aliko Dangote, president of Dangote Group, has clarified the relationship betwixt Dangote Refinery and the Nigerian National Petroleum Corporation Limited (NNPCL), emphasising practice implicit competition.

Dangote refuted notions of rivalry betwixt Dangote Refinery and NNPCL, stressing that some organisations stock a communal imaginativeness to guarantee vigor information for Nigeria.

He congratulated Bashir Bayo Ojulari, GCEO of NNPC Limited, and the remainder of the absorption squad connected their appointment, restating his assurance that they can navigate the responsibilities earlier them.

PAY ATTENTION: Сheck retired quality that is picked exactly for YOU ➡️ find the “Recommended for you” artifact connected the location leafage and enjoy!

Source: Legit.ng