Kenyan businessman Peter Muthoka has sold his airport cargo handling firm, Transglobal Cargo Centre Ltd, to Celebi Cargo GmbH for $40.1 million (approximately 5.2 billion Kenyan shillings).
The deal, approved by the Competition Authority of Kenya, marks Celebi’s entry into East Africa’s aviation services sector.
Transglobal operates at Jomo Kenyatta International Airport (JKIA) under the business name Africa Flight Services (AFS), handling 33% of export volumes and 20% of imports.
Celebi, which operates at Frankfurt Airport in Germany, plans to blend AFS’s local expertise with its global standards, enhancing Kenya’s logistics capabilities.
The acquisition is expected to boost air cargo growth, leveraging Nairobi’s strategic position as a regional hub. Kenya’s aviation market is forecasted to grow 5% annually, outpacing the global average of 3.3%.
