Bamburi Cement Limited has announced changes to its Board of Directors a month after global cement giant Holcim sold its 58.6% stake in the company to Tanzania’s Amsons Group.
Amsons Group acquired the stake in December 2024 for more than $100 million (approximately Ksh13 Billion), with Holcim citing alignment with its core market strategy.
The acquisition, approved by 96.54% of Bamburi shareholders, marks Amsons Group’s formal entry into the Kenyan market.
On January 22, 2025, Bamburi Cement issued a notice revealing changes to its Board of Directors, following the resignations of three Non-Executive Directors.
“The Board of Directors of Bamburi Cement Plc (the “Company”) announces the following changes to the board in regard to Holcim Nominee Directors, following the conclusion of the takeover transaction and transfer of shareholding from Holcim to Amsons Industries (K) Limited,” the notice reads.
Bamburi PLC announced the resignation of Claudia Albertini, effective January 21, 2025. Albertini, who joined the board on July 20, 2024, served on the Audit & Risk Committee.
Amsons announces resignation of Bamburi Cement PLC directors
The company also revealed the resignation of Grant Earnshaw, effective the same day. Earnshaw had been appointed to the board on February 26, 2024.
Additionally, Kaspar Theiler resigned as a Non-Executive Director, effective January 21, 2025. Theiler, who joined the board on May 7, 2024, had served on the Nomination, Remuneration & HR Committee.
In the announcement, the company expressed gratitude for the invaluable service and leadership provided by Claudia, Grant, and Kaspar during their tenure.
“Claudia, Grant and Kaspar have rendered invaluable service and leadership during their tenure. The Board thanks them for their dedicated service to the Company and wishes them the best in their future endeavors,” read part of the notice.
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The Bamburi Cement Limited board changes follow Holcim’s completion of its divestment in Kenya, having sold its entire 58.6% stake in the company to Amsons Group, generating cash proceeds of over Ksh13 billion from the transaction.
“The divestment advances Holcim’s strategy to consolidate its leadership in core markets as the global leader in innovative and sustainable building solutions, with Amsons Group best positioned to develop the business in Kenya in the long term,” said Holcim.
Take-over
Amsons Group made the purchase after the Tanzanian company announced on Wednesday, December 4, 2024, that it had received all necessary regulatory approvals to acquire up to 100% of Bamburi Cement’s shares.
The group further assured stakeholders of a seamless transaction, confirming its full preparedness to finalize the deal.
“Backed by KCB Investment Bank, Amsons is dedicated to ensuring a smooth process including prompt payment to shareholders who accept Amsons’ offer, providing them with the ability to realize the value of their investment in Bamburi Cement Plc.”
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Amsons Group is a family-owned business founded in 2006 in Tanzania that has more than $1billion in annual turnover.
Its main business operations historically involved bulk oil and petroleum products importation under the Camel Oil Tanzania retail brand.
Operations
In the fuel Sector, Amsons has fuel depots in several countries, including Tanzania, Mozambique, Zambia, and DRC, with over 150 retail stations in those countries.
The group has steadily diversified and grown its portfolio in the manufacturing sector with a 6,000MT/day cement manufacturing capability, including through the recently acquired Mbeya Cement facility.
In addition, the group has a wheat flour milling plant, a state- of-the-art premix concrete plant, Inland Container Depots (ICDs), Fuel and lubricants, Liquefied Petroleum Gas (LPG), and Transportation fleet across Zambia, Malawi, Mozambique, Democratic Republic of Congo, Burundi and Tanzania.
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