Savannah Clinker Limited is aiming to purchase Bamburi Cement for a total of Sh25 billion.
Established in 2019, The Savannah Clinker now aspires to acquire a large company, surpassing all its assets since its establishment.
During the previous two years, the firm has not had any cashflows.
In 2023, Savannah Clinker Limited recorded a net loss of 750,000 shillings, which is an improvement from the previous year’s loss of 3.5 million shillings.
The company claims that it has obtained a financing arrangement worth $415 million from “unnamed U.S. investors” for its limestone mining and clinker production facilities located in Kitu County, Kenya.
As of the year 2023, the entire equity of the firm was 600 million shillings, while the value of the company’s property, plant, and equipment was 330 million shillings, and the expenses of exploratory capital were 271 million shillings.
According to Savannah, the company has spent more than 650 million Kenyan shillings on planning and research for its cement operations.
