Gov’t Seeks Investors to Revive East African Portland Cement

The government is seeking potential investors to help in reviving the troubled East Africa Portland Cement Company (EAPCC), according to Kenya’s Industrialisation Cabinet secretary.

Mr Munya further noted that the government will review the firm’s management which he says has led to the downfall of the listed cement manufacturer.

The cement producer has already issued a profit warning indicating that its 2019 full-year earnings will be 25 per cent lower compared to the same period in 2018

The company which is crumbling under KSh10.8 billion debt has blamed a sluggish market, high cost of inputs, and production difficulties for the poor performance.

It recently laid off over 620 workers who are currently demanding dues amounting to Sh1.5 billion.