Kenya’s finance minister Njeru Githae told the Daily Nation that he is not convinced that Telkom Kenya’s current management has understood the dynamics of the Kenyan market, jeopardising its return to profitability. Last month Telkom, which is co-owned by France Telecom-Orange (51%) and the Kenyan government (49%), reportedly asked taxpayers to foot a KES10.9 billion (USD129.6 million) rescue package to help secure the company’s short-term future; the telco posted a record loss of KES18.2 billion in 2011, and is believed to be struggling to meet a number of financial obligations.
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OVETEL Finance minister: Telkom management do not understand market
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