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State risks losing Sh375m in Savannah Cement levy row businessdailyafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessdailyafrica.com Daily Mail and Mail on Sunday newspapers.
Mining firms starve State of billions in unpaid royalties standardmedia.co.ke - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from standardmedia.co.ke Daily Mail and Mail on Sunday newspapers.
THE STANDARD NATIONAL Savannah Cement factory in Athi River, Kajiado County. [Elvis Ogina, Standard] The Court of Appeal has reversed an order that barred two directors of a cement firm from interfering with its operations. Justices William Ouko, Daniel Musinga and Gatembu Kairu faulted High Court Judge Farah Amin for ordering that Donald Mwaura and John Gachanga should not sit on the board of Athi River-based Savannah Cement. Kenyans and Chinese investors own Savannah Cement. In their shareholding agreement, Kenyans own the firm through Savannah Heights while the Chinese investors hold their shares through Wanho International Limited and ACME Wanji Investment Limited. ....
Court of Appeal oust Savannah Cement directors Thursday May 20 2021 By SAM KIPLAGAT Summary Court of Appeal has quashed appointment of directors of troubled Savannah Cement by a judge in the wake of an ownership fight in the Athi River-based firm. A bench of three judges said the move by High Court Judge Farah Amin to appoint the board on her own amounted to usurping the powers of the shareholders. Court of Appeal has quashed appointment of directors of troubled Savannah Cement by a judge in the wake of an ownership fight in the Athi River-based firm. A bench of three judges said the move by High Court Judge Farah Amin to appoint the board on her own amounted to usurping the powers of the shareholders. ....
Kenyan producers oppose proposed raise in clinker import tariffs Written by Global Cement staff 07 April 2021 Kenya: Bamburi Cement, Savannah Cement, Ndovu Cement and Rai Cement have written to the National Treasury opposing a proposal by the Kenya Association of Manufacturers (KAM) to raise tariffs on clinker imports to 25% from 10% at present or to implement at outright ban on imports. The cement producers say that increasing the tariffs would lead to unfair competition and destroy investments, according to the Kenyan Star newspaper. However, the KAA argues that the move will promote the manufacturing sector and create jobs. Seddiq Hassani, the managing director of Bamburi Cement, said in a letter from the cement producers to the government, that they opposed the review at the current time but that they conceded that it was the right direction for the industry in the longer term to safeguard local manufacturi ....