Amsons Group has announced a $400 million investment plan over the next three years to drive growth following its $183 million acquisition of over 95% of Bamburi Cement in December 2024. The Tanzanian-based conglomerate, which completed the acquisition through its Kenyan subsidiary Amsons Industries (K) Ltd, is currently executing a compulsory buyout to acquire the remaining shares, leading to the likely delisting of Bamburi Cement from the Nairobi Securities Exchange (NSE), where it has been listed since 1970. Amsons Group Managing Director Edha Nahdi emphasized the company’s commitment to maintaining and enhancing Bamburi Cement’s operational standards. “From the onset, I…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Tanzania’s Amsons Group has extended its offer to buy out the remaining minority Bamburi Cement shareholders who declined the initial bid of Sh65 per share. The initial takeover offer, made in July, sought to acquire 100 per cent of Bamburi Cement’s issued ordinary shares. At that time, Holcim held a 58.6 per cent stake, with the remaining shares distributed among Kenyan institutions, individuals, and other foreign investors. However, shareholders representing 3.46 per cent of the company’s shares opted not to accept the Sh65 per share offer. Amsons has now issued a six-week ultimatum to these non-assenting shareholders. They can either…
The Kenyan government has extended the ban on exporting raw, in-shell macadamia nuts, effective March 1st, coinciding with the start of the harvest season. Agriculture Cabinet Secretary Mutahi Kagwe, in a statement released on February 27th, cited the Agricultural Food Authority (AFA) Act, the Oil Crops (Nuts and Crops) Regulations of 2020, and other national and international obligations as the legal basis for the ban. “The government’s policy stance is well-meaning and informed by a commitment to ensuring that the industry adheres to the law,” said Kagwe. He emphasised the government’s commitment to legal compliance within the industry. Kagwe urged…
Kenya’s annual consumer inflation increased for the fourth consecutive month, reaching 3.5% in February from 3.3% in January, according to the Kenya National Bureau of Statistics (KNBS). This marks a five-month high. The primary driver was a rise in food prices, with the Food and Non-Alcoholic Beverages index increasing by 0.6% between January and February and showing a 6.4% annual increase. “This is an indication that the general price level in February 2025 was 3.5% higher than it was in February 2024,” stated KNBS. Notably, sugar, cooking oil (salad), and tomatoes saw price increases of 3.2%, 1.6%, and 1.3%, respectively,…
The Kenya Revenue Authority (KRA) has upgraded its Electronic Tax Invoice Management System (eTIMS) platform, aiming to “improve the taxpayer experience and simplify taxpayer services,” according to the Commissioner for Domestic Taxes. These enhancements focus on streamlining onboarding, enhancing system flexibility, boosting efficiency, optimizing performance, and providing a more user-friendly interface. A key improvement is the introduction of self-onboarding. “Taxpayers can now apply for any of the available eTIMS solutions without requiring intervention from KRA,” eliminating the previous need for KRA approval. A simple text message confirms a successful application. Furthermore, eTIMS now allows for simultaneous use of different solutions.…
The Communications Authority of Kenya (CA) has responded to Nairobi County’s disconnection of fibre optic cables attached to Kenya Power poles, which has severely disrupted internet services across the capital. This disconnection has triggered widespread concern from Internet Service Providers (ISPs), businesses, and educational institutions. The core financial dispute involves conflicting claims: Kenya Power alleges Nairobi County owes KES 3.1 billion in unpaid electricity bills. At the same time, Nairobi County counterclaims that Kenya Power owes KES 4.83 billion in wayleave fees. The CA, however, clarifies that while county governments manage local land use, ICT infrastructure oversight falls under national…