By Patrice Katuma
Nairobi, Kenya – Aliko Dangote, Africa’s richest man with a staggering net worth of $23.9 billion (KSh 3.09 trillion) as of March 2025, has significantly expanded his investment portfolio in Kenya with the acquisition of Pollman’s Tours and Safaris, one of Kenya’s oldest and best-known tour operators. The deal, valued at KSh 4 billion, signals Dangote’s strong confidence in the future of Kenyan tourism as a key foreign exchange earner for the nation.
The acquisition was authorized by the Competition Authority of Kenya (CAK), which gave a green light for Africa Travel Investments, a tourism-focused company backed by Dangote, via Alterra Capital and American billionaire Dave Rubenstein, to acquire 100% of Pollman’s issued share capital.
The CAK determined that the acquisition would not negatively impact the competitive landscape within Kenya’s tour operator sector, which includes other players like Bonfire Adventures and Bountiful Safaris. “The structure and concentration of the markets for tour operators in Kenya will not be impacted by the proposed transaction because the target and the acquirer are not in similar businesses, and as a result, the market share of the merged entity will not change after the merger,” the CAK stated.
The regulatory authority also emphasized that the acquisition will not jeopardize employment opportunities or the competitiveness of smaller businesses in the sector. “The authority concluded that the deal does not threaten jobs or the competitiveness of small businesses, two major public interest issues under Kenyan merger rules. The parties stated that the transaction will not result in any job losses,” CAK clarified.
This purchase follows Alterra Capital’s investment in ARP Africa Travel Group, Pollman’s parent company, back in February, laying the groundwork for this significant acquisition.
Kenya’s Tourism Sector on the Rise:
The acquisition comes at a time when Kenya’s tourism sector is experiencing a resurgence. According to the 2025 Economic Survey published by the Kenya National Bureau of Statistics (KNBS), international visitor arrivals increased by 14.7% to 2.39 million in 2024. Furthermore, visits to national parks and wildlife reserves rose by 2.8% to 3.7 million during the same period. Museums, snake parks, and historical sites also saw a 6.9% increase in visitors, totaling 1.15 million. The growth is further fueled by an increase in both local and international conferences.
Dangote’s Growing Fortune:
This investment underscores Dangote’s continued dominance in the African business landscape. The combined wealth of African billionaires grew by $900 million (KSh 116.46 billion), rising from $81.5 billion (KSh 10.55 trillion) in 2024 to $82.4 billion in 2025. Dangote maintains his position as the continent’s wealthiest individual, with South African luxury goods magnate Johann Rupert trailing behind with a net worth of $10.1 billion (KSh 1.31 trillion).
The acquisition of Pollman’s Tours and Safaris by a Dangote-backed entity marks a significant development in Kenya’s tourism sector, promising potential growth and investment in one of the nation’s most vital industries.
