Tanzanian giant acquires 29.2% stake
in East African Portland Cement Company Kalahari Cement recently successfully completed the acquisition of 29.2% stake in East African Portland Cement Company (EAPC). The move marks a significant increase in the influence of Tanzanian industrialist Ibrahim Abdullah Munif in the cement industry in Kenya and East Africa. This transaction is not only a key step in its long-term strategic investment, but also will reshape the competitive landscape of the regional building materials market.
The acquisition transaction was officially completed on November 4, 2025, and its legal basis is the share purchase agreement signed by the parties on July 31, 2025, and all relevant regulatory conditions have been met. Kaharari Cement paid 27.30 Kenyan shillings per share, Acquired from Holcim Group's Allied International Cements (AIC) and Sementia Holdings (Cementia Holding AG) their respective 14.6% stakes in East African Portland Cements. The total number of shares acquired was 26,324,884, with a total shareholding ratio of 29.2%. The key to making
the acquisition go ahead was the approval by the Kenya Capital Markets Authority of an exemption for Kaharari Cement. According to the usual rules, when the acquirer's shareholding exceeds a certain threshold, a mandatory general offer must be made to all other shareholders of the target company. However, on August 5, 2025, the Capital Markets Authority granted Kaharari Cement an exemption from this obligation in accordance with the relevant regulations.
The Capital Markets Authority has characterized Kaharari Cement as a "strategic investor," recognizing its alignment with East African Portland Cement's long-term operational and technical goals. The approval allows the deal to proceed as a private transaction, clearing the main regulatory hurdle to its eventual completion.
Amsons Group has expanded its territory, with a total shareholding ratio of 41.7%
. Kaharari Cement Company is a subsidiary of Amsons Group, a pan-African energy and manufacturing giant. The group also recently acquired a 96% stake in Bamburi Cement, Kenya's largest cement producer, through the same structure. Bamburi Cement itself has a 12.5% stake in East African Portland Cement.
As a result, after the successful acquisition of the 29.2% stake, the affiliated entities of the Amsons Group will collectively control up to 41.7% of the equity of East Africa Portland Cement, thus gaining dominant influence over the company, although these entities remain legally independent.
Strategic intent: Building long-term value and industry leader
Edha Nahdi, general manager of Amsons Group, clearly stated his strategic intent after the transaction was completed. He described the acquisition as a "strategic investment" aimed at building long-term value for Portland Cement in East Africa. Nahedi said Kaharari Cement, as a long-term strategic investor, would leverage its market position to provide the necessary capital and technical resources with the goal of establishing East African Portland Cement as Kenya's leading cement manufacturer in terms of production and profitability.
He further stressed that the Group will spare no effort to devote all its resources to work with all stakeholders of Portland Cement East Africa to help the company achieve its strategic objectives through a shared prosperity model. Specific plans include strengthening Portland Cement East Africa's infrastructure, upgrading production capacity, injecting new technologies and expertise, and opening up new opportunities for market expansion.
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