Cement manufacturer Bamburi Cement’s new parent company Amsons Group has said it will pump US$ 400 million (~KShs. 52 billion) into the company over the next three years ‘to power growth.’
- •The investment will follow the US $183 million (KShs 23.6 billion) acquisition by Amsons Group, a family-owned business founded in 2006 in Tanzania.
- •Amsons acquired more than 95% of Bamburi Cement in December 2024, and is in the process of squeezing out the remaining shareholders as the last stage of a compulsory buyout stage.
- •The company has said it would be retaining the executive management team led by CEO Mohit Kapoor.
“At Amsons Group and as the integration process gets underway in earnest, we have strategic growth plans for Bamburi Cement, with a strong focus on fuelling growth and contributing significantly to Kenya’s national development,” Amsons Group managing director Edha Nahdi said on Monday.
Trading of BAMB shares was suspended in late February to allow for the squeeze out process over the next three months. Bamburi Cement is likely to be delisted from the Nairobi Securities Exchange (NSE) on which it first listed in 1970.
Through the Bamburi acquisition, Amsons will also control a 12.50% minority shareholding of East African Portland cement.
Amsons Group, originally an oil importer, now controls a cement manufacturing capacity of 13,000 metric tonnes per day. In addition to fuel importation and cement manufacturing, it is also invested in wheat flour milling, inland container deports, and transport and logistics.
Bamburi’s former owner Holcim has made 97 acquisitions, and sold more than 20 of its subsidiaries, since 2018. It is also in the process of restructuring its North American business by separating the capital structure so it can be listed in the United States. In addition to Bamburi, it has also sold its other businesses in Uganda and Tanzania.
