K
Originally published by Kenyanstop
September 17, 2025
3h ago
Secret Plans to Sell Shares in State Corporation Revealed
MPs revealed that the proposed sale of about 30 per cent of the company's authorised shares was being conducted in secrecy...
✨ Key Highlights
Members of Parliament are raising alarms over a planned private sale of shares in East Africa Portland Cement (EAPC) to Kalahari Cement Limited, citing lack of transparency and potential job losses. The transaction, involving 29.2 percent of EAPC's authorized shares, is allegedly being conducted in secrecy without consultation with staff, management, or the public.
- MPs on the Committee of Trade, Industry and Cooperatives, including Ikolomani MP Bernard Shinali and Aldai MP Marianne Kitany, are demanding due diligence and public involvement.
- EAPC Managing Director Mohammed Adan confirmed neither management nor staff were consulted, warning of employee jitters and looming job losses.
- The government holds a majority stake of 52.3 percent in EAPC through the National Social Security Fund (27 percent) and the National Treasury (25.3 percent).
- If the deal proceeds, Kalahari Cement, linked to Bamburi, would control 41.7 percent of EAPC.
Continue Reading
Read the complete article from Kenyans
