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Companies

iWay Africa Kenya makes Sh239 million turnover

iWay Africa Kenya recorded Sh238.64 million turnover in the 2016 financial year. FILE PHOTO | NMG
iWay Africa Kenya recorded Sh238.64 million turnover in the 2016 financial year. FILE PHOTO | NMG 

Internet service provider iWay Africa Kenya recorded Sh238.64 million turnover in the 2016 financial year, regulatory filings show.

iWay Africa Kenya recently concluded a deal to acquire some of the customers of Callkey (E.A). The acquisition is expected to grow iWay’s client base and revenue.

In a notice, the Competition Authority of Kenya (CAK) made public the size of iWay Africa’s Kenya business. The notice also indicates that Callkey had a turnover of Sh144.54 million in 2016.

“Therefore, the combined turnover of [383.2 million] is below the merger threshold required for mandatory notification as provided in the Merger Threshold Guidelines,” says CAK in a public notice.

Callkey provides corporate communications services.

iWay is acquiring 200 of its terrestrial and VSAT customers. VSAT is a type of satellite that is often used by both homes and offices.

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