MPS EXPOSE SALE OF PORTLAND CEMENT TO TANZANIAN TYCOONS

Kenyan lawmakers are raising red flags over a proposed acquisition of shares in East Africa Portland Cement (EAPC) by Tanzania-based Kalahari Cement, warning that the deal lacks transparency and could jeopardize public interest.
Members of Parliament from the Committee on Trade, Industry and Cooperatives issued a statement on September 16, saying they may recommend halting the transaction unless full disclosure and public participation are guaranteed.
Committee Chairperson Benard Shinali (Ikolomani) and Vice Chairperson Marianne Kitany (Aldai) said the proposed sale, involving a 29.2% stake currently held by Swiss-owned Cementia Holdings AG and Associated International Cement Ltd was moving ahead without consulting the company’s management, employees, or key stakeholders, including the government, which holds a controlling 52.3% stake.
“This is not just any private company. Kenyans, through their pensions and taxes, own a majority of this firm,” said Kitany. “Due diligence must be done, and employees and local communities must be involved.”
If successful, the deal would give Kalahari Cement, which has ties to Bamburi Cement, a total of 41.7% control of EAPC, raising concerns of market concentration and potential conflict of interest in the sector.