Nairobi, March 24 -- The government faces the prospect of a multi-billion shilling outlay if it is to turn around Telkom Kenya following its takeover of the entire ownership of the telco, disclosures made by previous majority shareholder Helios Investment Partners have revealed.

Helios, which offloaded the telco to the government last August, told The National Treasury in a letter dated July 15, 2021, that it would take an investment of Sh20 billion to turn around the business, coupled with regulatory changes to support the company.

The estimates by Helios have pointed to the level of investment needed to return the telco to profitability, a responsibility that now lies squarely with the government as the full owner of the third-largest...