Edha Nahdi's Recently Acquired Bamburi Cement Posts 7 Million Loss

Bamburi Cement reported a 7 million net loss in 2024, more than doubling its prior years deficit, following forex losses tied to the 84 million Hima Cement sale.

Despite a tough year, Bamburi declared a special dividend of 0.141 per share from Himas sale proceeds but skipped a final dividend due to deepened annual losses.

Amsons Group plans a 380 million expansion for Bamburi, aiming to boost Kenyan manufacturing, create jobs, and strengthen East African cement supply chains.

Bamburi Cement, Kenyas largest cement producer, recently acquired by Tanzanian businessman Edha Nahdis Amsons Group, reported a net loss of 7 million for the financial year ending December 2024.

This significant loss was largely driven by a Ksh1.43 billion 11.04 million foreign exchange loss tied to the sale of its Ugandan subsidiary, Hima Cement. The subsidiary was sold for 84 million to a consortium led by Ugandas Sarrai Group and Rwimi Holdings.

According to a recent update , Bamburi posted a loss of Ksh905 million 7 million, more than double the Ksh399 million 3.08 million loss recorded a year earlier.

Revenue fell slightly to Ksh21.9 billion 169.12 million from Ksh22 billion 169.89 million in 2023, as the company struggled with low market demand, severe weather disruptions, and political unrest. Operating profit also declined, dropping to Ksh700 million 5.41 million from Ksh1.02 billion 7.88 million, highlighting the tough operating conditions throughout 2024.

Despite the setback, Bamburi issued a special dividend of Ksh18.25 0.141 per share, totaling Ksh6.63 billion 51.2 million, which was tied to the sale of Hima Cement. However, the company refrained from declaring a final dividend as it closed the year in the red.