KENYA’S WANANCHI TO GO FOR IPO

Wananchi’s recent merger with ISPKenya has led it to seek a private placement to help it expand further. The merged company has a 38% market share and the deal has to be cleared with the Monopolies Commission (CHECK). Once the merger has been completed, the company will be seeking an IPO. Subject to a successful completion of the merger, the company will be looking for further acquisitions. In what areas? That would be telling.