Africa’s richest man, Nigerian industrialist Aliko Dangote, has made a major move into East Africa’s tourism sector through the acquisition of Kenya’s oldest tour operator, Pollman’s Tours and Safaris.
The deal was executed via Alterra Capital, a private equity firm backed by Dangote and American billionaire David Rubenstein.
In February, Alterra Capital invested in ARP Africa Travel Group, the parent company of Pollman’s, signaling a deliberate push into one of Kenya’s most lucrative industries, tourism.
Pollman’s, a household name in Kenyan safari and travel operations, now finds itself under new ownership aiming to capitalize on the continent’s rising appeal as a travel destination.
According to the Competition Authority of Kenya (CAK), the acquisition is unlikely to distort the current dynamics of the tour operator market in Kenya, which comprises more than 300 businesses including Bonfire Adventures and Bountiful Safaris.
“With regard to the proposed transaction, post-merger, the market share of the merged entity will not change as the target and the acquirer are not in similar business and therefore the structure and concentration of the markets for tour operators in Kenya will not be affected,” the regulator said in an official statement.
The CAK further noted that the deal poses no threat to employment or the survival of smaller firms, two key concerns in Kenya’s merger evaluations.
“The acquisition does not threaten jobs or the competitiveness of small businesses,” the authority concluded.
Reports from the Kenyan Wall Street confirm that no job losses are expected as a result of the deal, providing reassurance to staff and stakeholders.
Dangote’s investment in Kenya is consistent with his strategy of expanding into high-potential African markets.
In a similar development earlier this year, he launched a massive sugar refinery project in Kwame-Danso, located in Ghana’s Bono East Region.
The facility, financed by Dangote Sugar Refinery Plc, aims to process up to 12,000 tons of sugarcane per day and sits on a 25,000-hectare irrigated plantation.
It will not only produce refined sugar but also generate byproducts like molasses and ethanol, with implications for Ghana’s biofuel and agro-processing sectors.
The project supports the Ghanaian government’s “One District, One Factory” initiative and is poised to cut into the country’s $162 million annual sugar import bill.
Dangote’s business footprint continues to grow beyond Nigeria.
His oil refinery has already begun exporting petroleum products to Saudi Arabia, North America, and most recently, Turkey.
Meanwhile, his cement operations span at least ten African countries, including Cameroon, Ethiopia, Ghana, Senegal, Sierra Leone, and South Africa.
With this latest acquisition in Kenya, Dangote reaffirms his commitment to regional integration and continental growth, this time by stepping into the heart of Africa’s tourism economy.
