The proposal to increase import duty on clinker, a raw material used in making cement, from 10 percent to 25 percent, will crush competitors outright. Devki Group, which owns four cement firms, has been lobbying the government to raise the taxes. But the reality is Kenya does not produce adequate clinker, for one reason or […]
The Competition Authority of Kenya (CAK) has warned the government against implementing a proposal by billionaire industrialist Narendra Raval to raise the import duty on clinker, a raw material used in cement production, from 10 percent to 25 percent. Mr Raval whose Devki Group owns four cement firms has been lobbying the government to raise […]
East Africa Portland Cement has bounced back to profitability to post net profit of Kshs. 1.9 billion for the full year period ending June 31, 2021. This was positive result for the cement manufacturer which has posted a profit loss after tax of Kshs. 2.8 billion during the same period last year. According to EAPC […]
Eddie Ndichu hit the spotlight after getting married to media personality Janet Mbugua on May 30, 2015 Eddie who co-founded Wapi Pay in 2019, has worked in several organisations including Standard Chartered Bank, KCB and SBM Bank On his LinkedIn profile, he describes himself as an experienced leader in digital, mobile, payments and fintech Edward […]
Increased freight charges slapped on importing coal and clinker have reinforced the case for local production to shield cement manufacturers from steep costs that have kept cement prices on the roofs. Onset of Covid-19 elevated charges as importers of commodities such as coal, clinker and steel compete for airline spaces with transportation of health essentials […]
IMARC Group’s recent report, titled “ East Africa Cement Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026 ”, estimated that the East Africa cement market size reached a volume of 35.5 Million Tons in 2020. The cement market possesses vast opportunities in East African countries on account of soaring population and inflating income […]
Cement firms are investing billions of shillings to build new or expand clinker plants as local production of the raw material is cheaper, making it a key competitive advantage. A report by the National Independent Clinker Verification Committee found that six companies have started or are set to embark on expanding clinker plants capacity by […]
The Kenya Association of Manufacturers (KAM) has backed recommendations that a four-year grace period be considered before any increase of import duty subjected on clinker, a key raw material used in cement production. The decision emanates from a report by the National Independent Verification Committee constituted by KAM in order to assess clinker production and […]
Bamburi Cement Ltd Trucks collects cement from a Silo, a storage facility in Industrial area, Nairobi on May 24, 2021. These trucks transport cement in different regions on behalf of the company . [Stafford Ondego,Standard] . Bamburi Cement is eyeing a clinker production facility and a solar power plant to lower its operating costs. The […]
A stockbroker at the Nairobi Securities Exchange trading floor. FILE PHOTO | NMG Foreign investors at the Nairobi Securities Exchange (NSE) recorded net inflows of Sh242.3 million last week, reversing the previous week’s net outflows of Sh208.5 million as they bulked up on Safaricom and large banks’ shares. Their buying activity, combined with higher participation […]
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