One of the reasons Helios Investment Partners decided to begin its withdrawal from the troubled telecoms company in 2021 was the government’s choice to remove property worth Sh10 billion from Telkom Kenya’s balance sheet without informing the fund.
According to documents obtained by Business Daily, this was one of the two significant events that led the private equity fund to invoke its legal authority to demand that the government acquire its investment.
Mr. Cunningham serves as a director for Jamhuri Holding Ltd, the special purpose entity Helios established for its June 2016 investment in Telkom Kenya Ltd. Also, it has come to light that the joint venture between Telkom Kenya and Airtel Kenya did not succeed.
