iWay Africa Kenya makes Sh239 million turnover
20 October 2017
Internet service provider iWay Africa Kenya recorded Sh238.64 million turnover in the 2016 financial year, regulatory filings show.
iWay Africa Kenya recently concluded a deal to acquire some of the customers of Callkey (E.A). The acquisition is expected to grow iWay’s client base and revenue.
In a notice, the Competition Authority of Kenya (CAK) made public the size of iWay Africa’s Kenya business. The notice also indicates that Callkey had a turnover of Sh144.54 million in 2016.
“Therefore, the combined turnover of [383.2 million] is below the merger threshold required for mandatory notification as provided in the Merger Threshold Guidelines,” says CAK in a public notice.
Callkey provides corporate communications services.
iWay is acquiring 200 of its terrestrial and VSAT customers. VSAT is a type of satellite that is often used by both homes and offices.
Source: Business Daily Africa