Business Daily (Nairobi)
Okuttah Mark
27 October 2009
The Communications Commission of Kenya (CCK) is betting on its award of the best infrastructure regulator in Africa to attract more foreign investors.
The regulator beat Nigeria Communication Commission and Independent Commission Authority of South Africa (Icasa) at function hosted by Africa Investor, an investment communications company, in South Africa.
CCK director general Charles Njoroge attributed the win to the commission's efforts to create an excellent and stable investment climate.
"The country's broadband infrastructure offers investors tremendous opportunities for their businesses and we expect to see more investments in all facets of the economy that will be driven by reliable connectivity," he said.
This comes at a time when the sector is witnessing increased deal-making as foreign investors including Essar Telecom, Telkom South Africa, and MTN close multi-billion shilling buyout deals.
Driving the interest is the promise of increased revenues from a market that is among the fastest growing in the world.
Pyramid Research reckons that the size of the Kenya's telecoms market is set to grow by 42 per cent from $1.3 billion (Sh104 billion) recorded in revenues last year to $1.9 billion (Sh152 billion) by 2013, with 78 per cent of the total coming from the mobile phone sector.
Analysts say the biggest growth in the coming months is expected in the data segment thanks to the international fibre optic links.
The sector is one of those identified by the government to create wealth and employment in its Vision 2030, especially on the Business Process Outsourcing (BPO).
Africa Investor declared CCK the winner of the award last week in Cape Town, South Africa.
CCK's promotion of private sector views in the development of policies caught the attention of the judges.
The agency was noted for the inclusion of measures to adopt Public Private Partnership (PPP) regulation in poverty eradication and economic growth, and commitment to building capacity within government or the business community.
The director general called on investors in the ICT industry to take advantage of the stable regulatory climate and improved infrastructure to set up businesses in the country.
Presenting the awards, Africa Investor's vice-chairman, Hubert Danso, said: "Through infrastructure investment, the private sector operating in Africa has established itself as a critical development partner. Africa Investor is delighted to recognise both the public and private sector partners in the forefront of projects impacting the attainment of MDGs in Africa."
Nomination for this and other categories of the award are done by third parties without reference to the nominee organisations.
Africa Investor is a specialist investment communications group based in South Africa.
Other award category winners were African Development Bank, sponsor of the year award, and the Industrial Development Corporation, which won the award for developer of the year.
The power deal award went to Exxaro, while Nedbank Capital took transport deal of the year crown, and Rand Merchant Bank was feted in the social infrastructure deal.
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