Consumer lobby group Cofek challenged plans to dispose of the National Social Security Fund (NSSF) shares in East African Portland Cement (EAPC) to Tanzania’s Kalahari Cement Limited.
Kalahari Cement is acquiring a 27 percent stake in East African Portland Cement (EAPC) from the National Social Security Fund (NSSF) for Sh1.6 billion.
If the deal goes through, Kalahari, and its parent company Amsons Group, will have a controlling stake in EAPC once regulatory approvals are in place.
Consumer Federation of Kenya (Cofek) moved to court to challenge the intended transaction arguing that it would result in effective foreign control or majority influence over EAPC, a strategic Kenyan cement manufacturer with historical State ownership and national economic importance.
The acquisition, which follows Kalahari’s previous 29.2 percent purchase from other shareholders, will result in Kalahari Cement and its affiliates holding an effective 68.7 percent controlling stake in EAPC.
The lobby said the planned acquisition raises serious constitutional, regulatory, and public-interest considerations.
Cofek further claims that the move has proceeded without full public disclosure, regulatory transparency, or demonstrable compliance with the Capital Markets Act, the Competition Act, the Public Finance Management Act, and applicable governance standards.
“Unless this Honourable Court intervenes urgently, the sale and transfer of NSSF shares to Kalahari Cement Limited may be completed imminently, resulting in irreversible consolidation of ownership and control, loss of public leverage, and rendering the present petition academic and nugatory,” the lobby group said in court documents.
Justice Bahati Mwamuye slated the mention for the case for January 27, 2026 ordered the petitioner to serve the respondents with the Application, Petition in both hardcopy and softcopy by close of business December 4, 2025 and file an affidavits) of service in that regard by close of business December 5.
Kalahari Cement, a locally incorporated investment firm, announced the sealing of a share purchase agreement (SPA) to acquire a further 27% equity stake in the East African Portland Cement Plc (EAPC), valued at Sh1.6 billion, the NSSF.
In a public notice published, Kalahari Cement confirmed that it had entered into the SPA with NSSF, in yet another strategic investment bid that will see the firm acquire twenty-four million, three hundred thousand (24,300,000) ordinary shares at Sh66 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.
Kalahari Cement, a subsidiary of the pan-African Energy and manufacturing business conglomerate Amsons Group, recently acquired a 29.2% 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% of ordinary shares in EAPC.
Listed at the Nairobi Securities Exchange (NSE), EAPC owns an integrated cement plant located on the outskirts of Kenya’s capital, Nairobi.
Its brands include Blue Triangle Cement, its longest-standing brand in the market, and Green Triangle Cement, an innovative product designed with less clinker and lower energy consumption, providing a sustainable alternative that meets the growing demands of environmentally conscious customers in the construction sector.
Other brands in its product portfolio include Falcon Cabro, Olympia Cabro, Tri-Hex Cabro, Cosmic Cabro and Brick (Quad) Cabro.
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