Shortly after Helios Investment Partners acquired a stake in Telkom Kenya, the company’s newly appointed Chief Executive, Aldo Mareuse has signaled their focus on real estate as a major revenue earner. Last week, Jamhuri Holdings Limited (100% owned by Helios Investment Partners) announced the acquisition of a 60% stake in Telkom Kenya, making them the largest shareholder in the East African telecoms giant.
Speaking at a media briefing held earlier this week, Mareuse unveiled the reorganised business structure, which included mobile, fixed telephone, wholesale as well as a real estate unit.
Telkom Kenya’s real estate wealth is estimated at Sh13 billion ($130m), according to a report by East African regional news outlet Business Daily Africa, where the data was compiled from a document prepared by Orange for failed negotiations to sell the stake to Nigerian investors in 2015. Telkom Kenya reportedly owns 39.1 hectares of land and real estate properties along Nairobi’s Ngong Road with 11 residential buildings, a sports club and offices all valued at approximately Sh4 billion ($40m).
Mareuse declined to provide information regarding their strategy at the media briefing, pointing to the fact that they are not a listed company and also because of the competitive nature of the sector. A unit head for the newly created unit is yet to be selected.
Helios Investment Partners is an Africa-focused private investment firm managing funds totaling approximately $3 billion. Other prominent investments made by Helios include the acquisition of a majority equity interest in Interswitch Limited, the largest payment processing service provider in Nigeria, where Helios led an investor group.