Kenyan authorities to promote stake in East African Portland Cement Firm

Kenya: The federal government has determined to promote its total 25% stake in East African Portland Cement Firm, as a part of a strategic reform of its investments, guided by the Worldwide Financial Fund. The Star newspaper has reported that the federal government expects to earn US$134m from the sale. It reportedly offered 30% of shares within the producer for US$117m in 2023.

Of East African Portland Cement Firm’s a number of minority shareholders, the most important is Lafarge South Africa, with 42% of shares, adopted by the Kenyan Nationwide Social Safety Fund, with 27%.

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