NAIROBI, Kenya, Nov 12 – Kalahari Cement, a subsidiary of Tanzania’s Amsons Group, has completed the acquisition of a 29.2 percent stake in East African Portland Cement (EAPC), marking one of the most significant cross-border deals in the region’s cement industry.
The acquisition follows a share purchase agreement (SPA) signed on July 31, 2025, and the subsequent fulfillment of all regulatory conditions. The transaction was finalized on November 4, 2025.
Under the deal, Kalahari Cement acquired 13.1 million (14.6 percent) ordinary shares in EAPC from Associated International Cement Limited (AIC) and another 13.2 million (14.6 percent) shares from Cementia Holding AG at Sh27.30 per share.
Amsons Group Managing Director Edha Nahdi said the acquisition will enable Kalahari to inject new capital and technical expertise into EAPC to strengthen its production capacity and competitiveness.
“Kalahari Cement is a committed and experienced strategic investor. We will leverage our market positioning to provide capital and technical resources necessary to transform EAPC into one of Kenya’s leading cement manufacturers by volume and profitability, as part of our corporate contribution to Kenya’s economic prosperity,” said Nahdi.
The Capital Markets Authority (CMA) approved the transaction as a private acquisition under the Capital Markets Act, CAP 485 and the Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023.
Kalahari Cement had earlier applied to the CMA for an exemption from making a mandatory takeover offer to all EAPC shareholders under Regulation 5 of the Capital Markets (Takeovers and Mergers) Regulations, 2002, which was granted on August 5, 2025.
The acquisition strengthens Kalahari Cement’s foothold in East Africa’s construction sector and is expected to boost EAPC’s recovery efforts following years of financial strain. Industry observers say the deal could usher in renewed competition and consolidation in Kenya’s cement market.
