- Kalahari Cement, a Nairobi registered subsidiary of Amsons Group, has successfully completed its bid to purchase 13,144,442 (14.6%) ordinary shares in the issued share capital of EAPC from Associated International Cement Limited and a further 13,180,442 (14.6%) ordinary shares in EAPC from Cementia Holding AG at KES 27.30 per share.
- The transaction comes almost a year after Amsons Group entered the Kenyan cement business through the acquisition of major player Bamburi Cement.
- Amsons Group is a family-owned business founded in 2006 in Tanzania, with a presence in multiple sectors including oil and gas, manufacturing and transport in Zambia, Malawi, Mozambique, DRC and Burundi.
Tanzania-based Amsons Group has expanded its capacity in the regional construction sector with the purchase of a 29.2 percent equity stake in troubled East African Portland Cement (EAPC), just months after acquiring competitor, Bamburi cement.
In a market update on Wednesday, Amsons Group said its Kenyan registered subsidiary, Kalahari Cement, has successfully completed its offer to purchase 13,144,442 (14.6 percent) ordinary shares in the issued share capital of EAPC from Associated International Cement Limited (AIC) and a further 13,180,442 (14.6 percent) ordinary shares in EAPC from Cementia Holding AG at KES 27.30 per share.
The Group noted that the completion of the sale, as a private transaction, follows the signing of a share purchase agreement (SPA) dated July 31, 2025, and the fulfillment of the relevant legal conditions, which closed on Tuesday, November 4, 2025.
Amsons Group wants to build long-term value in EAPC
According to Amsons Group Managing Director Edha Nahdi, the acquisition is a “strategic investment” designed to build long-term value for EAPC, by strengthening the company’s infrastructure and providing access to additional resources.
The recently completed acquisition, Mr Nahdi added, will enable Kalahari Cement to strategically deploy its resources to drive growth and strengthen the infrastructure of the cement industry through enhanced production capabilities and creating new opportunities for innovation and market expansion.
“Our subsidiary Kalahari Cement is a committed and experienced strategic investor and will leverage its market positioning to provide the capital and technical resources required to transform EAPC into one of Kenya’s leading cement manufacturers in terms of volume and profitability, as part of our corporate contribution to Kenya’s economic prosperity,” said Mr Nahdi.
He added: “As a long-term strategic investor, Kalahari Cement will help EAPC achieve its strategic objectives through a shared prosperity model with all stakeholders from staff, trading partners and government institutions of Kenya. Amsons Groupwe do not intend to spare resources, financial or otherwise, in our turnaround partnership with all EAPC stakeholders.”
Kalahari Cement was founded in Kenya in May
The shares acquired by Kalahari Cement, which was incorporated in Kenya in May this year, represent a 29.2 percent stake in EAPC and will enable the company, which is also affiliated with Mbeya Cement in Tanzania and Bamburi Cement Plc in Kenya, to help steer the future of the company.
The company’s notice of its intention to acquire the equity interests was published publicly on July 31 and indicated that Kalahari would apply to the CMA for an exemption from the requirement to make a mandatory takeover offer to all shareholders in EAPC as part of the proposed acquisition.
Accordingly, in accordance with Regulation 5 of the Capital Markets (Takeovers and Mergers) Regulations, 2002 (the Takeover Regulations), Kalahari submitted the exemption application to the CMA on 1 August 2025.
On 5 August 2025, the CMA approved the exemption application under Regulation 5(1) of the Takeover Regulations. The CMA further approved the proposed acquisition as a private transaction under the Capital Markets Act, CAP 485 and the Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023.
Amsons Group grows business empire
Amsons Group is a family business founded in 2006 in Tanzania, with roots in the import of bulk oil and petroleum products under the retail brand Camel Oil Tanzania.
The company has diversified into a wide range of sectors, including manufacturing operations that now boast an installed cement production capacity of 6,000 tonnes per day, supported by the recent acquisition of Mbeya Cement. Thanks to the integration of Bamburi Cement, Amsons Group’s total cement production capacity has now grown to 13,000 tonnes per day.
The Group also operates a wheat flour mill with a capacity of 500 tonnes per day, a state-of-the-art premix concrete plant, Inland Container Depots (ICDs), fuels and lubricants, liquefied petroleum gas (LPG), in addition to a transport fleet covering Zambia, Malawi, Mozambique, Democratic Republic of Congo, Burundi and Tanzania.
In the fuel sector, Amsons Group operates fuel depots in several countries including Tanzania, Mozambique, Zambia and the DRC, with a robust network of more than 150 fuel stations.
Also read: Tanzania’s Amsons Group acquires Bamburi Cement after $183 million acquisition
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