Kenya: The International Finance Corporation (IFC) says it is still considering investing in ARM Cement after it entered administration in late August 2018. IFC Kenya Country Manager Manuel Moses said that the World Bank institution was waiting for the outcome of the administration process to complete to see if a ‘good proposal’ would emerge, according to the Standard newspaper. Moses made the comments while unveiling the IFC’s investments in Sub-Saharan Africa in 2018.
The Kenya cement producer has been placed into admiration for 12 months to attempt to solve its debt problems. The IFC was previously set to take over loans worth US$120m at ARM Cement in July 2018 and was also interested in an equity stake.
