Kenyan Government to Divest from East African Portland Cement Company

The Kenyan government has announced plans to sell its majority stake in the East African Portland Cement Company (EAPCC), one of the largest cement manufacturers in the region. The decision is part of the government’s strategy to privatize state-owned companies and reduce its fiscal deficit. EAPCC is a publicly listed company in which the Kenyan government currently holds a 51% stake. The company has a market capitalization of approximately $130 million and operates four cement plants in Kenya and one in Uganda. The government plans to sell its entire stake in EAPCC through a competitive bidding process. The sale is expected to generate significant revenue for the government, which it intends to use to reduce its debt burden and fund infrastructure projects. The government’s decision has been met with mixed reactions. Some industry experts believe that the privatization of EAPCC will improve its efficiency and competitiveness. However, others are concerned that the sale could lead to job losses and the loss of control over a strategic industry. The government has assured stakeholders that it will ensure a transparent and fair bidding process. It has also stated that it will put in place measures to protect the interests of employees and the general public. The sale of EAPCC is expected to attract interest from both local and international investors. Several cement companies have already expressed an interest in acquiring the government’s stake. The privatization of EAPCC is a significant milestone in the Kenyan government’s economic reform agenda. It is expected to pave the way for further privatization of state-owned companies and reduce the government’s role in the economy.Banjo Man: Credit My Hard Work, Not Bobi Wine

Banjo Man: Credit My Hard Work, Not Bobi Wine

Henry Ssentamu, known as Banjo Man, is a successful businessman and former musician who has achieved financial stability through his own efforts. Despite being Bobi Wine’s brother, Banjo Man emphasizes that he deserves credit for his accomplishments. In a recent interview, he expressed frustration over the misconception that his wealth and properties were due to Bobi Wine’s support. “The false thing I have heard about myself is that everything I have does not belong to me but to Bobi Wine,” Banjo Man said. “When you don’t get credit for your hard work and sweat, it hurts deeply.” Banjo Man highlights that he has built his success through hard work and dedication. “We all work to leave a legacy,” he stated. “I find it difficult to convince people that I worked hard to own what I have now.” He acknowledges his close relationship with Bobi Wine, who is five years his senior. However, he insists that his achievements are not a reflection of his brother’s prominence. “Bobi is my older brother, but I worked hard for what I have.” Banjo Man advises young people not to get stuck in low-paying jobs. He encourages them to pursue their dreams and work towards financial independence. “I encourage them to do something that can sustain their lives,” he said. “Don’t depend on someone else; strive to create your own path.” Through his story, Banjo Man emphasizes the importance of acknowledging and rewarding hard work, regardless of one’s connections or relationships.The Kenyan government plans to sell a majority stake in the East African Portland Cement Company (EAPCC), one of Kenya’s largest cement manufacturers. The sale, which is expected to raise billions of shillings, is part of the government’s privatization program. The government currently owns 51% of EAPCC, while the remaining shares are held by private investors. The government has appointed Stanbic Bank as the lead transaction advisor for the sale. The sale of EAPCC is expected to attract interest from both local and international investors. The company is a leading player in the Kenyan cement market, with a market share of over 20%. EAPCC has also been expanding its operations in neighboring countries, including Tanzania, Uganda, and Rwanda. The government’s decision to sell its stake in EAPCC is part of its broader privatization program, which aims to reduce the government’s role in the economy and increase private sector investment. The government has already privatized several state-owned companies, including Kenya Airways, Kenya Power, and Telkom Kenya. The sale of EAPCC is expected to be completed by the end of the year.