NAIROBI, Kenya- In a landmark move for Kenya’s cement industry, shareholders of Bamburi Cement have approved the sale of the company to Amsons Industries (K) Ltd, a local subsidiary of Tanzania’s Amsons Group.
The Sh23.2 billion deal received overwhelming support, with 96.54% of stock owners voting in favor. This acquisition not only strengthens Amsons Group’s foothold in Kenya but also paves the way for broader industrial growth in East Africa.
Amsons Group Managing Director Edha Nahdi hailed the acquisition as a key milestone in the conglomerate’s regional expansion strategy.
“This acquisition aligns with our strategy to expand into specialized cement manufacturing and complements our broader growth objectives. With Bamburi Cement now part of the Amsons family, we anticipate creating significant mutual benefits through this integration,” Nahdi said.
The group has ambitious plans for Kenya, including diversification into sectors like energy, food manufacturing, warehousing, and logistics.
“This acquisition not only marks our formal entry into the Kenyan market but also reinforces our long-term vision to grow across multiple industries in East Africa,” Nahdi added.
The road to this acquisition wasn’t without drama. Amsons Group faced competition from Savannah Clinker, which initially offered Sh25.4 billion to acquire 100pc of Bamburi Cement’s issued ordinary shares.
However, Savannah Clinker withdrew after its proprietor, Benson Sande Ndeta, was embroiled in a legal scandal.
Ndeta was arrested over allegations of a Sh700 million fraud at his company and faced charges including forgery, conspiracy to defraud, and obtaining credit under false pretenses.
With Savannah Clinker out of the running, Amsons emerged as the sole contender, sealing the deal and marking a significant turning point for Bamburi Cement.
The acquisition of Bamburi Cement is a win for Amsons Group and a promising step for Kenya’s industrial growth.
By integrating Bamburi into its portfolio, Amsons plans to leverage its expertise to drive innovation in the cement industry while laying the groundwork for ventures into other sectors.
