Kalahari Cement has taken a major step in expanding its footprint in East Africa by acquiring a 27% equity stake in East African Portland Cement Plc (EAPC) from the National Social Security Fund (NSSF). The transaction, valued at Ksh1.6 billion, involves 24.3 million shares purchased at Ksh66 per share, pending regulatory approval.
This acquisition increases Kalahari Cement’s overall holding in EAPC to 56.2%, giving the company effective control of the Kenyan cement manufacturer. Despite this, Kalahari Cement has clarified that it has no plans to make a general takeover offer or delist EAPC from the Nairobi Securities Exchange (NSE), assuring shareholders of continuity.
Kalahari Cement is part of the pan-African conglomerate Amsons Group and has been steadily increasing its stake in EAPC. The company previously acquired 29.2% of EAPC shares from Associated International Cement Limited (AIC) and Cementia Holding AG, while related company Bamburi Cement Plc also holds around 12.5% of EAPC’s ordinary shares.
Amsons Group Managing Director, Edha Nahdi, emphasized that the company’s approach is long-term and strategic. “Kalahari Cement will assist EAPC in achieving its strategic objectives while supporting a shared prosperity model with staff, trade partners, and government agencies. Our goal is to strengthen EAPC’s infrastructure and resources for sustainable growth,” Nahdi said.
EAPC, listed on the NSE, operates an integrated cement plant near Nairobi. Its leading brands include Blue Triangle Cement and the environmentally conscious Green Triangle Cement, alongside Falcon Cabro, Olympia Cabro, Tri-Hex Cabro, Cosmic Cabro, and Brick (Quad) Cabro. Kalahari Cement’s increased stake is expected to further enhance the company’s capacity to meet Kenya’s growing construction and sustainable building demands.
source: Business day