The National Social Security Fund (NSSF) has signed a Kes 1.6 billion share purchase agreement with Kalahari Cement, ceding a 27% stake in East African Portland Cement Plc (EAPC).
Under the agreement, Kalahari Cement will acquire 24.3 million ordinary shares at Kes 66 per share, subject to regulatory approvals.
Strategic Investment
- The transaction will give Kalahari Cement effective control of EAPC, though the firm has confirmed it will not pursue a takeover offer.
- Kalahari Cement is a subsidiary of Amsons Group, a pan-African energy and manufacturing conglomerate.
- The deal follows Kalahari’s recent acquisition of a 29.2% stake in EAPC from Associated International Cement Limited (AIC) and Cementia Holding AG.
- Bamburi Cement Plc, a related company, also holds approximately 12.5% of EAPC shares.
Amsons Group Managing Director Edha Nahdi said:
“Kalahari does not intend to delist EAPC from the NSE after completion of the transaction. As a long-term strategic investor, we are committed to assisting EAPC in achieving its objectives while deepening Kenya’s capital markets, which are vital for economic prosperity.”
Nahdi emphasised that the investment is designed to strengthen EAPC’s infrastructure, provide access to resources, and build long-term value through a shared prosperity model with stakeholders including staff, trade partners, and government agencies.
Market Position
EAPC, listed on the Nairobi Securities Exchange (NSE), operates an integrated cement plant on the outskirts of Nairobi. Its portfolio includes: Blue Triangle Cement, Green Triangle Cement, and Cabro products: Falcon, Olympia, Tri-Hex, Cosmic, Brick (Quad)
