Nasfund to invest in Telikom

By DALE LUMA
THE Government will soon invite private sector investors to invest in Telikom Ltd under a government partial private partnership programme, according to National Superannuation Fund (Nasfund).
Chief executive officer Ian Tarutia told The National that Nasfund has already signed a memorandum of understanding (MoU) with its consortium partners to invest in Telikom and was waiting for a formal proposal from the state.
It is understood Kumul Consolidated Holdings (KCH) is currently working on an information memorandum (IM) for the company to provide to Nasfund and its partners which might see the state retaining a lesser share in the entity if the process is completed.
“Nasfund has not received a formal IM from KCH at this time, although we understand KCH are working tirelessly to have it ready before the year ends,” Tarutia told The National.
“We have signed a MOA with other consortium partners in preparation to consider the investment opportunity under Governments’ Partial Privatisation Programme, (PPP) for Telikom and look forward to receiving the proposal from KCH in due course.”
He said KCH on behalf of the State had yet to issue an information memorandum to interested investors including Nasfund.
Once this happens the formal process of assessment and due diligence will commence.
“Under a PPP arrangement, the State will sell down its shareholding to allow investors to take up ownership rights,” he said.
“In this case the potential investors in Telikom are Nasfund and its consortium partners.”