The National Social Security Fund (NSSF) completed the sale of its 27 per cent stake in East African Portland Cement Company (EAPCC) to Kalahari Cement Ltd, an entity ultimately owned by Tanzania’s Amsons Group.
It is a shake-up in the country’s cement sector, which was announced by Amsons Group Tuesday, following approvals from the Capital Markets Authority (CMA), the Competition Authority of Kenya (CAK) and the Ministry of Mining.
This makes Kalahari Cement the majority shareholder in EAPCC with a 69 per cent ownership stake.
EAPCC has struggled financially for more than a decade and has not posted meaningful profitability for 13 years, and for the first time in years, shareholders were recently paid a dividend following the successful conclusion of the NSSF share sale.
What this means is that EAPCC will unlock fresh capital injections that could restore its competitive position, raise production capacity and reduce Kenya’s reliance on imported cement.
Amsons Group has signalled plans for the Athi River-based manufacturer. Through its investment arm, it announced capital spending aimed at tripling EAPCC’s production capacity over the next three years.
It also plans to develop a new clinker production plant, a move projected to create thousands of direct and indirect jobs and lower input costs for the wider construction and logistics sectors.
The investment is also expected to strengthen Kenya’s industrial value chain by improving local cement availability and stabilising prices.
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Amson Deal Discussions
In December 2024, the group acquired Bamburi Cement, after which the company reported double-digit improvements in EBITDA due to operational efficiencies and stronger group-level support.
Through Bamburi, Amsons has also commenced work on a new 5,000-tonnes-per-day clinker facility in Kwale County, anchored by the Mtuga plant project.
The facility, which requires more than Ksh.38.7 million (US$300 million) in foreign direct investment, is expected to create more than 1,000 direct jobs and significantly boost industrial activity along Kenya’s coast.
Amsons Group’s deal dates back several years, when government discussions began on reducing state ownership in strategic manufacturing firms as part of a privatisation and industrial revitalisation agenda.
EAPCC, one of Kenya’s oldest cement producers, had become a priority due to prolonged losses, operational inefficiencies and rising competition from imports. Initial negotiations on bringing in a strategic investor gained momentum between 2023 and 2024, culminating in an agreement in principle for the NSSF to divest its 27 per cent holding to a private industry player.
Regulatory reviews and public interest assessments delayed the final close of the deal until December 9, 2025, when all approvals were secured.
Who Owns Amsons?
Amsons Group is a diversified industrial conglomerate headquartered in Tanzania, with a strong focus on cement manufacturing, logistics, trading and industrial services.
The group operates across several African markets, with core operations in Tanzania, Kenya, Rwanda, Zambia and Mozambique, and is increasingly positioning itself as a regional cement powerhouse.
Its business model combines heavy industrial production with deep logistics capabilities, enabling it to control both manufacturing and distribution across multiple countries.
