Displaying items by tag: KCB

Kenya: Peter Kahi of PKF Consulting has been appointed as the administrator of Savannah Cement. This follows the resignation of Harveen Gadhoke, according to the Business Daily newspaper. Gadhoke was appointed as the administrator of the company in November 2022 when Absa and KCB attempted to put it into administration due to combined debts of US$66m. Savannah Cement fought back legally against the attempt to manage it externally but a court rejected this in July 2023.

Kenya: East Africa Portland Cement Company (EAPCC) has defaulted on contractual loan repayments to KCB Bank after auditors PricewaterhouseCoopers reported that the Kenyan company made a loss of US$28.0m in the twelve months to 30 June 2019, over which time it produced 0.3Mt of cement against an installed capacity of 1.3Mt/yr.