IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 30 Jun 2012 | Removal date: open ended

Capital injection and equity stakes (including bailouts)

On 30 June 2012, the Kenyan Government approved a recapitalisation plan for Telkom Kenya (49% government owned, France Telecom being the other major shareholder). The Treasury and France Telecom agreed to each inject 5 billion Shillings (57.6 million USD) in the company. The Treasury decided to convert its share of Telkom debt into equity, which effectively recapitalises and restructures the balance sheet of the company. This restructuring allows to borrow additional funds more easily.
 
The measure mainly discriminates against the othertwo major players in the sector Safaricom (with Vodafone as a main shareholder) and Econet Limited (with Essar Communications as a main shareholder).

AFFECTED COUNTRIES

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