The Competition Authority of Kenya (CAK) has approved the acquisition of Atlas Kenya by French infrastructure investor Stoa S.A.S. for $27 million (Sh3.5 billion). This deal is one of the largest telecom infrastructure transactions in the country this year, reflecting renewed confidence from foreign investors in Kenya’s expanding digital economy.
Atlas Kenya operates more than 450 telecom towers across the country and supports major telecommunications providers, including Safaricom, Airtel, and Telkom Kenya. Since its launch in 2019, the company has focused on delivering connectivity infrastructure in both urban and rural areas. With Stoa’s investment, Atlas plans to expand its tower sites and integrate solar power systems to enhance network reliability.
Kenya’s regulatory body stated that this acquisition is unlikely to negatively impact competition or raise public concerns within the telecommunications market.
A boost for connectivity and green growth
This acquisition highlights the evolving Kenyan telecom sector, where operators are increasingly outsourcing tower management to independent infrastructure firms. This allows them to reduce operational costs and concentrate on service delivery, a model reshaping connectivity throughout Africa.
Stoa, a French firm specialising in infrastructure and renewable energy projects in emerging markets, will invest in Atlas Kenya to expand tower coverage and introduce renewable energy solutions like solar power and energy storage. This investment aligns with Stoa’s mission to build sustainable digital ecosystems by reducing operational costs and carbon emissions.
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Experts believe this move could bridge Kenya’s connectivity gap, especially in remote areas with weak signals. Improved infrastructure would enhance internet and data reliability, benefiting businesses and digital inclusion.
What comes next for Kenya’s telecom space
Following its acquisition, Atlas Kenya plans to expand its network and enhance the resilience of its tower system. The company, backed by a previous $48.9 million (Sh6.3 billion) investment from the International Finance Corporation in 4G tower installations, has demonstrated consistent growth.
CEO Randl Clendennen described the acquisition as a “transformational step,” saying it will help Atlas scale operations, improve power generation, and bring critical wireless services to more communities.
Stoa’s entry introduces competition and capital to Kenya’s tower market, dominated by Safaricom (59%), ATC Kenya, and Atlas, reinforcing the country’s digital infrastructure. This signifies a convergence of connectivity, investment, and clean energy driving Africa’s telecom development.
