Kenya: Quantum Global has sold its stake in Savannah Cement following approval by the Kenyan Competition Commission. This follows the sale of its stake in Seruji, the Mauritius-based firm that owns a 60% stake in Savannah Cement, according to the Standard newspaper. Quantum Global’s departure gives entrepreneur Benson Ndeta more control over Savannah Cement, which will now own Seruji. Ndeta also holds a stake in Savannah Heights, the other shareholder in Savannah.
Private equity firm Quantum Global has held the asset since 2015 through its US$1.1bn Infrastructure Fund. Savannah Cement started operating in 2012 and it runs a 1.5Mt/yr grinding plant at Athi-River near Nairobi.