eSwatini: The eSwatini Competition Commission (ESCC) has conditionally approved the acquisition of 100% of AfriSam eSwatini by Singapore-based West International New Building Materials (WINBM). The competition watchdog imposed safeguards to prevent the transaction from weakening competition in the country’s cement market. The transaction was notified to the commission on 17 December 2025, and was determined by the technical committee of the Board of Commissioners on 8 July 2026.
WINBM is an investment company incorporated in Singapore and has no physical presence in Eswatini. However, its group imports cement into the country from Mozambique Dugongo Cimentos, a subsidiary through which it participates in the local cement market. AfriSam, meanwhile, is incorporated in South Africa and indirectly wholly owns AfriSam eSwatini. The local subsidiary operates a cement blending facility in Matsapha and sources bulk cement and other input materials from AfriSam in South Africa.
