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Mauritius firm buys Kenya stockbroker for Sh470 million
Mr Kassim Bharadia, ApexAfrica Capital’s long-serving CEO. The Mauritian firm Axis’s buyout offer for ApexAfrica dwarfs previous takeovers of Kenyan stockbrokers. PHOTO | FILE
A Mauritian fund manager Axis has acquired Kenyan stock broker ApexAfrica Capital for Sh470 million, making it the highest priced takeover of a market intermediary in East Africa.
Details of the transaction, which is expected to be completed in the coming weeks, have been made public by the Competition Authority of Kenya (CAK), which allowed it to progress on grounds that it is not subject to the regulator’s review.
