TUKO.co.ke journalist Japhet Ruto brings over eight years of experience in financial, business, and technology reporting, offering deep insights into Kenyan and global economic trends.

Kenya’s oldest tour operator, Pollman’s Tours and Safaris, has been acquired by Africa Travel Investments, a tourism-focused company backed by Africa's richest man, Aliko Dangote.

The acquisition indicates Dangote's confidence in Kenya's tourism industry, a major foreign exchange earner.

The Competition Authority of Kenya (CAK) authorised a 100% acquisition of Pollman's issued share capital.

"The structure and concentration of the markets for tour operators in Kenya will not be impacted by the proposed transaction because the target and the acquirer are not in similar businesses, and as a result, the market share of the merged entity will not change after the merger," CAK confirmed.

This purchase comes after Alterra Capital, a private equity fund backed by American billionaire Dave Rubenstein and Dangote, the chairman of Dangote Cement, invested in ARP Africa Travel Group, Pollman's parent business, in February.

CAK explained that the buyout won't affect the competitive environment of Kenya's tour operator sector, which includes Bonfire Adventures and Bountiful Safaris.

Additionally, the regulatory authority concluded that the acquisition would not hurt employment or the ability of smaller companies to compete in the market.

"The authority concluded that the deal does not threaten jobs or the competitiveness of small businesses, two major public interest issues under Kenyan merger rules. The parties stated that the transaction will not result in any job losses," CAK clarified.

Business Daily reported that Dangote spent a whopping KSh 4 billion in the deal.

The purchase of Pollman’s by a Dangote-supported entity highlights a strategic expansion into Kenya’s booming tourism sector.

According to the 2025 Economic Survey published by the Kenya National Bureau of Statistics (KNBS), the number of international visitor arrivals increased by 14.7% to 2.39 million in 2024.

While the number of local conferences rose 4.7% to 11,225 during the same period, the number of international conferences increased 2.3% to 999.

The hosting of high-profile meetings and the rise in visitor arrivals provided significant support for the conferences.

During the period under review, there were 3.7 million visitors to national parks and wildlife reserves, an increase of 2.8%.

Similarly, 6.9% more people visited museums, snake parks, and historical places in 2024, totalling 1.15 million visits.

The combined wealth of African billionaires grew by $900 million (KSh 116.46 billion), rising from $81.5 billion (KSh 10.55 trillion) in 2024 to $82.4 billion in 2025.

Dangote maintained his status as Africa's richest individual, with a net worth of $23.9 billion (KSh 3.09 trillion) as of March 2025.

South African luxury goods magnate Johann Rupert is second with a net worth of $10.1 billion (KSh 1.31 trillion).

Source: TUKO.co.ke