Amsons Group, a renowned Tanzanian conglomerate, has made a landmark move in East African trade relations by issuing a binding offer to acquire up to 100 per cent of Bamburi Cement PLC, a key player in Kenya's cement industry.

This strategic investment, which could potentially result in one of East Africa's largest takeover deals, underscores Amsons Group's ambition to cement its presence in the region.

The proposed acquisition involves a takeover bid for shares in Bamburi at Sh65 per share, aiming to secure a substantial stake in the Nairobi Securities Exchange-listed company.

With this investment, Amsons Group plans to invest a significant sum of $180 million, marking a pivotal moment for foreign direct investment in Kenya.

Amsons Group, established in Tanzania in 2006, has grown into a multifaceted enterprise with interests spanning various sectors, including cement, petroleum products, and transportation.

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Its subsidiary, Amsons Industries (K) Ltd, is leading the acquisition effort, highlighting the group's focus on expanding its footprint in East Africa.

Edha Nahdi, Managing Director of Amsons Group, expressed confidence in the deal, stating, "The acquisition by Amsons Group represents a primary expansion strategy for us to deepen our investment in Kenya and Bamburi."

Martin Kriegner, Holcim's Regional Head of Asia, Middle East & Africa, emphasised the strategic alignment of this move, saying, "This agreement to sell our stake in Bamburi Cement advances Holcim's strategy of extending our leadership in our core markets as the global leader in innovative and sustainable building solutions."

The deal also reflects Amsons Group's broader strategic vision, as it aims to strengthen its position in the Tanzanian construction market through its brands "Camel Cement" and "Tembo Cement". Mr Nahdi elaborated,

"To produce our cement, we deploy world-class cement manufacturing technology that has afforded us sustained market growth and partnerships as the preferred supplier of choice to leading building and construction sector players."

This acquisition is poised to bolster Amsons Group's market presence and drive growth in the region, building on the solid foundation already set by Holcim at Bamburi Cement.