Govt grants mining approval to Tanzanian company seeking Bamburi Cement buyout

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Kenyan conglomerate Amsons Group acquires Bamburi Cement for $1.2 billion.

The acquisition is part of Amsons Group’s expansion into the cement industry.

Background

The Amsons Group is a Kenyan conglomerate with interests in various sectors, including construction, manufacturing, and energy. The company has been expanding its operations in recent years, and the acquisition of Bamburi Cement is a significant step in this direction.

Key Facts

  • The Amsons Group has been in talks with Bamburi Cement for several months. The acquisition is valued at approximately $2 billion. The deal is expected to be completed within the next 12 months. ## The Acquisition*

    • The Acquisition

    The Amsons Group has announced that it has received approval from Kenya’s mining ministry for its proposed acquisition of Bamburi Cement.

    Holcim has a significant presence in the region, with operations in Kenya, Tanzania, and Uganda. Bamburi’s parent company, Holcim, has a global presence with operations in over 70 countries.

    The Bamburi Cement Company: A Regional Powerhouse

    The Bamburi Cement Company is a leading cement manufacturer in East Africa, with a long history of producing high-quality cement products. The company’s commitment to innovation and sustainability has earned it a reputation as a regional powerhouse.

    A History of Excellence

    Bamburi Cement Company was founded in 1915 by the British colonial administration in Kenya. The company’s early success was largely due to its strategic location, which allowed it to tap into the region’s rich natural resources.

    The deal is expected to boost the cement industry in Kenya, with Bamburi being the largest cement manufacturer in the country.

    The Bamburi Cement Deal: A Game-Changer for Kenya’s Cement Industry

    The recent deal between Savannah Clinker and Bamburi Cement has sent shockwaves throughout the Kenyan cement industry. The family-owned conglomerate has placed a significant order of Ksh25.4 billion for Bamburi, cement manufacturer and the largest in the country.

    Key Highlights of the Deal

  • Significant Investment: The deal marks a significant investment in the Kenyan cement industry, with Savannah Clinker committing to purchase a substantial quantity of cement from Bamburi. Boost to the Industry: The deal is expected to boost the cement industry in Kenya, with Bamburi being the largest cement manufacturer in the country. Diversification of Bamburi’s Revenue Streams: The deal will also diversify Bamburi’s revenue streams, reducing its dependence on a single market.

    2023, in the court case.

    Background

    The case against Ndeta revolves around allegations of fraud and corruption in a proposed deal to expand Savannah Clinker, a cement factory in Kenya. The deal, valued at approximately Ksh.700 million, was meant to increase the factory’s production capacity. However, some politicians have accused Ndeta of attempting to sabotage his own bid for a contract to supply cement to the Bamburi Cement factory.

    Key Allegations

  • Ndeta allegedly used his position to secure a lucrative contract for a company that had no experience in the cement industry. The company, which was allegedly owned by Ndeta, was said to have no physical presence or assets. Ndeta was accused of using his influence to manipulate the bidding process and secure the contract for his own company. ## Investigation and Arrest*

    • Investigation and Arrest

    The investigation into Ndeta’s alleged wrongdoing was launched after a complaint was filed by a group of concerned citizens. The police launched an investigation and gathered evidence, which led to Ndeta’s arrest. The arrest was made in connection with the alleged fraudulent deal to expand Savannah Clinker.

    Evidence and Investigation

  • The police found documents and records that showed Ndeta had been in contact with officials from the Savannah Clinker factory. The documents also revealed that Ndeta had been involved in discussions with other officials about the proposed deal. The police also found evidence of suspicious transactions and payments made to Ndeta’s company. ## Court Case*

    • Court Case

    The case against Ndeta will be heard in court on January 21, 2023. The court will consider the evidence gathered by the police and determine whether Ndeta is guilty of the alleged crimes.

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