Kenya: The government has decided to sell its entire 25% stake in East African Portland Cement Company, as part of a strategic reform of its investments, guided by the International Monetary Fund. The Star newspaper has reported that the government expects to earn US$134m from the sale. It reportedly sold 30% of shares in the producer for US$117m in 2023.
Of East African Portland Cement Company’s multiple minority shareholders, the largest is Lafarge South Africa, with 42% of shares, followed by the Kenyan National Social Security Fund, with 27%.
