The Lower Eastern Times Opening The Third Eye
Kalahari Cement has purchased a 27 percent shareholding in East African Portland Cement (EAPC) from the National Social Security Fund (NSSF).
The Sh1.6 billion Share Purchase Agreement, signed yesterday, covers the acquisition of 24.3 million ordinary shares at Sh66 each, pending regulatory approvals.
While the deal gives Kalahari Cement significant control over EAPC, the company says it has no intention of launching a takeover bid for the publicly listed cement maker.
Kalahari Cement, part of the pan-African energy and manufacturing conglomerate Amsons Group, recently bought a 29.2 percent stake in EAPC from Associated International Cement Limited (AIC) and Cementia Holding AG. Meanwhile, Bamburi Cement Plc—also linked to Kalahari—owns roughly 12.5 percent of EAPC’s shares.
Amsons Group Managing Director Edha Nahdi confirmed the latest acquisition and noted that Kalahari will seek a Capital Markets Authority (CMA) exemption since it does not plan to make a general offer for the remaining voting shares. He added that Kalahari has no plans to delist EAPC from the Nairobi Securities Exchange.
Nahdi said the company intends to act as a long-term strategic investor, committed to supporting EAPC’s growth and strengthening Kenya’s capital markets. He emphasized that the partnership aims to build long-term value by improving EAPC’s infrastructure and expanding access to resources.
“Kalahari Cement will help EAPC meet its strategic goals through a shared prosperity model that benefits employees, partners, and government bodies. At Amsons Group, we will commit all necessary resources to support EAPC’s turnaround,” he said.
EAPC, traded on the NSE, runs an integrated cement plant near Nairobi. Its product range includes Blue Triangle Cement, Green Triangle Cement—an eco-friendlier option with lower clinker content—and several cabro paving blocks such as Falcon, Olympia, Tri-Hex, Cosmic, and Brick (Quad).
