Browsing: Bamburi Cement

Savannah Clinker Limited Bamburi Cement takeover

Kenya’s Savannah Clinker counters Tanzania’s Amsons with $197 million Bamburi bid

Investing
  • Savannah Clinker seeks to acquire 100% of the Nairobi Securities Exchange-issued shares of Bamburi Cement for $197.3M (KES25.4Bn), an offer that is higher than the $180M (KES23Bn) placed earlier by Amsons Group.
  • The competition between Savannah Clinker and Amsons Group underscores an ever-persistent rivalry between Kenyan and Tanzanian firms in the East African market.
  • In July, Amsons’ $180M offer was seen as a strategic move to expand its footprint in Kenya and tap into the lucrative construction market.

The push by Tanzania-based conglomerate Amsons Group to grow its footprint across Kenya through the acquisition of Bamburi Cement has taken a fresh twist after a Kenyan-based mining firm Savannah Clinker Ltd placed a more attractive counter-offer for the full acquisition of Bamburi PLC.

In the latest filing with market regulators, Savannah Clinker seeks to acquire 100 per cent of the Nairobi Securities Exchange-issued shares of Bamburi Cement for $197.3 million(KES25.4 billion), …

Bamburi Cement Group Chairman Dr. John Simba (Right), Sustainability & Geocycle Director Ms. Jane Wangari and Group Managing Director Mr. Mohit Kapoor during the launch of the 2022 Sustainability Report in Nairobi on Thursday. The report details its green growth trajectory geared towards decarbonising its business operations to achieve net-zero carbon (CO2) emissions by 2050.

Bamburi Cement targets 40 per cent cut in carbon emissions by 2030

Industry and Trade
  • Bamburi Cement is rolling out plan to lower its net carbon emissions by 40% by 2030 as growing climate change impacts hit the globe. 
  • The company announced that it has lowered its carbon emissions by 3.2% and achieved a 5.5% increase in the use of alternative fuels.
  • The reduction in the Scope 1 carbon emissions is attributed  to ongoing key initiatives such as use of alternative fuels, the substitution of clinker, renewable energy and optimization of the cement manufacturing process. 

Bamburi Cement Plc has unveiled a strategy to reduce its net carbon emissions by 40 per cent by 2030 in response to the increasing impacts of climate change worldwide.

Speaking during the launch of its 2022 Sustainability Report, the company announced that it has reduced its carbon emissions by 3.2 per cent and achieved a 5.5 per cent increase in the use of alternative fuels in its operations.

Bamburi …

Bamburi

Bamburi Cement appoints new CEO amidst dwindling profits

Industry and Trade
  • Bamburi Cement PLC has appointed Mohit Kapoor as the new Group Chief Executive Officer (CEO), effective April 1, 2023, subject to regulatory approvals.
  • An electrical engineer, marketer and supply chain expert by profession, Kapoor was the Country CEO for Holcim Qatar prior to this appointment.
  •  Seddiq Hassani concludes his 5 year tenure leaving behind a stable and resilient brand.

 Bamburi Cement PLC has appointed Mohit Kapoor as the new Group Chief Executive Officer (CEO), effective April 1, 2023, subject to regulatory approvals amidst dwindling profits.

Kapoor succeeds Seddiq Hassani, who has served as the company’s CEO since his appointment on February 9, 2018, and ends his five-year tenure on March 31, 2023.

An electrical engineer, marketer and supply chain expert by profession, Kapoor was the Country CEO for Holcim Qatar prior to this appointment. He has also served as the Head of Growth and Innovation at Holcim India, the Managing …

Bamburi Cement has expressed concerns over the Uganda-Rwanda border row, warning it could derail its earnings. This comes amid a drop in net profit for the year 2018, reported at Ksh614 million (US$6.1 million) down from Ksh1.9 billion (US$18.8 million) in 2017. The Nairobi Securities Exchange (NSE) listed firm has however reported a 3.7 per cent jump in turnover, from Ksh36 billion (US$3.6 billion) in 2017 to Ksh37.2 billion (US$3.7 billion) in 2018 as cement volumes grew by nine per cent.

Uganda-Rwanda tiff scares Bamburi cement as profits drop

Manufacturing

2018 profits dropped to US$6.1 million from US$18.8 million in 2017

Cement manufacturers-Bamburi Cement has expressed concerns over the Uganda-Rwanda border row, warning it could derail its earnings.

This comes amid a drop in net profit for the year 2018, reported at Ksh614 million (US$6.1 million) down from Ksh1.9 billion (US$18.8 million) in 2017.

“The difficulties experienced in the Uganda-Rwanda border have significantly impacted exports to Rwanda from Uganda and the Group hopes this matter is resolved expeditiously,” the company said in its financial statement signed by Chairman John Simba and Group Managing Director Seddiq Hassani.

The Nairobi Securities Exchange (NSE) listed firm has however reported a 3.7 per cent jump in turnover, from Ksh36 billion (US$3.6 billion) in 2017 to Ksh37.2 billion (US$3.7 billion) in 2018 as cement volumes grew by nine per cent.

“The Group achieved this growth despite a market decline of five per cent in Kenya, …