Kalahari Cement has signed a share purchase agreement (SPA) to acquire an additional 27 percent equity stake in the East African Portland Cement Plc (EAPC), from the National Social Security Fund (NSSF). 

The transaction, valued at KES1.6 billion, will increase Kalahari Cement's shareholding in EAPC to 56.2 percent, following its earlier acquisition of a 29.2 percent stake. 

In a public notice published Wednesday, Kalahari Cement confirmed that it had entered into the SPA with NSSF on Tuesday this week, in yet another strategic investment bid that will see the firm acquire 24,300,000 ordinary shares at KES66 per share in the issued share capital of EAPC from NSSF, subject to regulatory approvals.

Although the proposed transaction will see Kalahari Cement assume effective control of EAPC, the company has confirmed that it has no intention of making a takeover offer for the local cement manufacturing firm. 

On November 12, 2025, Kalahari Cement acquired a 29.2 percent stake in EAPC from Associated International Cement Limited (AIC) and Cementia Holding AG. Bamburi Cement Plc (a related company to Kalahari Cement) also holds approximately 12.5 percent of ordinary shares in EAPC.

Speaking when he confirmed the proposed transaction, Amsons Group Managing Director Mr Edha Nahdi said Kalahari does not intend to make a general offer to acquire all the voting shares in EAPC and will apply to the Capital Markets Authority (CMA) for an exemption from the requirement to make a takeover offer to all shareholders of the cement manufacturing firm. 

“Kalahari does not intend to delist EAPC from the NSE after completion of the Proposed Transaction,” Nahdi said, adding, “Kalahari, as a long-term strategic investor, is committed to assisting EAPC in achieving its strategic objectives whilst deepening the capital markets regime, which is vital for Kenya’s economic prosperity.”

The proposed transaction, Nahdi reiterated, is designed to build long-term value for EAPC by strengthening the firm’s infrastructure and providing access to additional resources. 

“As I have previously mentioned, as a long-term strategic investor, Kalahari Cement will assist EAPC to achieve its strategic objectives through a shared prosperity model with all stakeholders, from staff, trade partners and government of Kenya agencies. At Amsons Group, we do not intend to spare any resource, financial or otherwise, in our turnaround partnership with all EAPC Stakeholders.” 

Listed at the Nairobi Securities Exchange (NSE), EAPC owns an integrated cement plant located in Athi River with Blue Triangle and Green Triangle Cement being its flagship brands.

 Other brands in its product portfolio include Falcon Cabro, Olympia Cabro, Tri-Hex Cabro, Cosmic Cabro and Brick (Quad) Cabro.