The National Social Security Fund (NSSF) has exited the East African Portland Cement Company (EAPCC) board nearly four months after completing the sale of its entire stake to Kalahari Cement Limited.
The cement firm said in a public notice on Friday that David Koross, the Managing Trustee and CEO of NSSF, who has been Fund’s representative on the EAPCC board, has stepped down effective April 10, 2026.
“The board announces the exit of NSSF, represented by David Koross, from the board. The company extends its gratitude to the NSSF and Mr Koross for his service and contributions during his tenure,” said EAPCC.
EAPCC has now announced a new board member, James Oduor, as a non-executive director. Mr Oduor is currently the chief financial officer at Lemi National Cement in Ethiopia.
“The board is pleased to announce the appointment of a new director whose extensive executive leadership experience will be instrumental in driving the company’s operational turnaround, financial restructuring, and strategic expansion,” said EAPCC.
Kalahari Cement is a subsidiary of Tanzania’s Amsons Group, which first acquired a 29.2 percent stake from Holcim-owned entities. The deal was followed by the acquisition of the entire NSSF stake, giving the Tanzanian firm a controlling interest.
Under the agreement, Kalahari Cement acquired a 14.6 percent stake in EAPCC from Associated International Cement Limited (AIC) and another 14.6 percent stake from Cementia Holding AG, both at Sh27.30 per share.
EAPCC has struggled with persistent losses for more than a decade, issuing a dividend this year only due to proceeds from land sales rather than improved operations.
The new majority ownership now places responsibility for the turnaround on Amsons, whose ongoing projects include a 5,000-tonne-per-day clinker facility in Kwale being developed by Bamburi Cement at a cost exceeding $300 million (Sh38.8 billion).
The deal in EAPCC came about a year after Amsons completed the full acquisition of Bamburi Cement for Sh23.6 billion, cementing its hold on Kenya’s cement market.
Kalahari Cement is controlled by Tanzanian tycoon Edhah Abdallah Munif through his wholly owned Mauritius-based investment companies – Pacific Cement (90 percent) and Comercio Et Consiel (10 percent).
The EAPCC and Bamburi deals gave the Tanzanian firm strategic access to two of Kenya's top cement companies, which have a combined share of 31 percent of the country's production capacity of 14.5 million tonnes per annum.
