NAIROBI — The Amsons Group has effectively cornered the Kenyan construction market, securing a controlling 69 percent stake in the struggling East African Portland Cement Company (EAPCC) after buying out the National Social Security Fund (NSSF).

This acquisition is not merely a transfer of shares; it marks a definitive shift in Kenya’s industrial landscape. By absorbing the NSSF’s 27 percent holding through its subsidiary, Kalahari Cement Ltd, the Tanzanian giant has handed a lifeline to the iconic yet financially anaemic “Blue Triangle” brand, which has hemorrhaged cash for over a decade.

A New Era for Athi River

The transaction, which received the green light from the Capital Markets Authority, the Competition Authority of Kenya, and the Ministry of Mining, places the destiny of Kenya’s oldest cement manufacturer firmly in private hands. For the Kenyan builder, this consolidation signals a potential stabilization in supply chains, though it places significant market power in the hands of a single regional player.

Edha Munif, the Managing Director of Amsons Group, wasted no time in outlining an aggressive turnaround strategy. Munif asserted that the acquisition is a strategic bet on Kenya’s infrastructure appetite, pledging to overhaul the aging Athi River plant.

“We see so much potential in the cement market in Kenya, and we are committed to growing it even more,” Munif stated. He outlined a three-pronged revitalization plan:

• Capacity Expansion: A target to triple production capacity within the next three years.
• Infrastructure Investment: The construction of a new clinkerisation plant to reduce raw material imports.
• Job Creation: The generation of thousands of new jobs across logistics and construction sectors.

“I have always believed in local production as one of the best ways to grow and stabilise an economy, and now we have another opportunity to prove this through our acquisition of EAPCC,” Munif added.

Ending the Cycle of Losses

For EAPCC shareholders and employees, the takeover comes after a grueling period of uncertainty. The company has posted losses for 13 consecutive years, a streak that turned a once-blue-chip stock into a cautionary tale of state-owned enterprise mismanagement. While shareholders received a dividend this year, it was a cosmetic victory funded by the sale of land rather than operational success.

Analysts suggest that Amsons is the only entity with the capital depth required to modernize EAPCC’s dilapidated kilns. The sale is expected to trigger an immediate injection of fresh capital, crucial for restoring profitability and reducing the country's reliance on imported clinker.

The Bamburi Blueprint

Market observers are looking to Amsons' track record for clues on EAPCC's future. The group acquired Bamburi Cement in December 2024, and in just one year, the results have been tangible. Bamburi has reported a double-digit increase in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), driven by streamlined group efficiencies.

Furthermore, Amsons is currently constructing a massive clinker facility in Kwale County through Bamburi. The Matuga plant represents a Foreign Direct Investment (FDI) of over USD 300 million (approx. KES 39 billion). Once operational, this facility is expected to churn out 1.6 million tonnes of clinker annually and create over 1,000 direct jobs.

With both Bamburi and EAPCC now under its umbrella, Amsons is poised to dictate the tempo of the construction sector across East Africa. As the dust settles on the deal, the focus shifts to execution: can Amsons turn the rust at Athi River into gold, or will the legacy challenges of the giant prove too heavy to lift?