Kenya, May 14 -- Nigerian billionaire Aliko Dangote, through his investment firm Alterra Capital, has purchased Kenya's famous Pollman's Tours and Safaris for about Sh4 billion, which is around $31 million.
This is Dangote's second big investment in Kenya. His first was buying the well-known Java House restaurant chain.
Pollman's Tours and Safaris is a top name in Kenya's tourism industry. They are famous for their safari packages and travel services across East Africa.
The company has been around for over sixty years and is known for providing great travel experiences to both local and international visitors.
Sources close to the deal said that the negotiations between Alterra Capital and Pollman's have just finished this week.
This acquisition is seen as a smart move by Dangote to grow his presence in Kenya's growing tourism and hospitality industry, taking advantage of the country's reputation as a leading safari destination.
Dangote's earlier purchase of Java House showed his interest in Kenya's consumer markets.
Experts believe that buying Pollman's fits into Alterra Capital's plan to diversify its investments, moving beyond Dangote's traditional businesses like cement, manufacturing, and energy.
Industry professionals think that Dangote entering Kenya's tourism sector could lead to more investments and increased competition in the hospitality market.
Kenya's tourism industry is very important for the country's economy and has been recovering steadily since the pandemic.
This acquisition is expected to improve Pollman's services, potentially enhancing what they offer with Alterra's financial support and strategic plans.
Published by HT Digital Content Services with permission from Bana Kenya.