NAIROBI, Kenya, Oct 5 – The Competition Authority of Kenya (CAK) has approved the acquisition of East African Cables by Cable Experts Limited.
CAK said the approval was granted pursuant to Section 46(6) of the Competition Act, which empowers the authority to authorise proposed transactions.
“Pursuant to the provisions of section 46 (6) of the Competition Act Cap 504 of the Laws of Kenya (the Competition Act), it is notified for general information, that in exercise of the powers conferred upon the Competition Authority of Kenya by Section 46 (6) (a) (ii) of the Competition Act, the Competition Authority of Kenya has authorized the proposed transaction as set out herein,” CAK Director-General David Kemei said in a notice published in the Kenya Gazette.
The approval comes after Equity Bank placed TransCentury and its subsidiary East African Cables under receivership and administration, respectively, following the lapse of court orders that had temporarily halted the process.
Muniu Thoithi and George Weru of PricewaterhouseCoopers Limited were subsequently reinstated as joint receivers and managers for TransCentury and joint administrators for East African Cables.
The two were initially appointed on June 16, 2023, and resumed their duties on June 19, 2025, after a 90-day extension of court orders expired.
The Court of Appeal had on May 23 dismissed a bid by East African Cables to stop Equity Bank from selling its properties over a Sh2.2 billion debt, paving the way for the subsequent receivership and administration processes.
