NAIROBI, Kenya, Dec 20 – Shareholders of Bamburi Cement have approved a Sh23.2 billion sell to Amsons Industries (K) Ltd, a local subsidiary of Tanzanian business conglomerate Amsons Group.
The deal received overwhelming support from stock owners with a 96.54 percent.
“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,” Amsons Group Managing Director Edha Nahdi said.
He further highlighted the group’s plans to expand into additional sectors within Kenya, including 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,” he added.
The takeover by the Tanzanian firm followed a fierce bidding war with Savannah Clinker, which had offered Sh25.4 billion for up to 100 percent of issued ordinary shares in the cement company.
However, Amsons Group remained alone after Savannah Clinker abandoned an earlier plan to acquire full ownership of Bamburi Cement.
This followed the arrest of Benson Sande Ndeta, the proprietor of Savannah Clinker, over allegations of a Sh700 million fraud at the company.
Ndeta faced multiple charges, including forgery, conspiracy to defraud, obtaining credit by false pretenses, and uttering false documents.
