Tanzania’s Amsons Group is aiming to acquire Kenya’s Bamburi Cement PLC in a significant deal valued at $180 million (about KSh 23.22 billion). The offer, which includes purchasing Holcim’s entire stake in Bamburi Cement, marks Amsons Group’s strategic move into East Africa’s cement market.
Founded in 2006, Amsons Group has grown into a diverse conglomerate with an annual turnover exceeding $1 billion. Starting with petroleum imports, the family-owned business has expanded into cement manufacturing and wheat flour milling across several African countries.
Nahdi, Managing Director of Amsons Group, expressed confidence in the acquisition’s potential to strengthen their foothold in Kenya’s cement sector. The offer, which exceeds Bamburi Cement’s recent market valuation, shows Amsons Group’s dedication to regional growth and market expansion.
Holcim’s decision to sell its stake in Bamburi Cement aligns with its global strategy focused on sustainable building solutions. Martin Kriegner, Holcim’s regional head for Asia, Middle East, and Africa, highlighted the strategic fit between Amsons Group’s vision and Bamburi Cement’s long-term goals.
Pending regulatory approvals, this acquisition represents a significant step forward in East African economic cooperation and promises to enhance regional investment opportunities.
Photo source: Google
By: Montel Kamau
Serrari Financial Analyst
11tth July, 2024
