Lifeline for ailing cement firm as State lines up new investorsTrade and Industrialization Cabinet Secretary Peter Munya, arrives at Kibini Primary School, in Kajiado East during the opening of a class room constructed by the East African Portland Cement. According to the firm’s financials released last week, it can barely meet orders for its Blue Triangle cement and its cash position is negative. In a similar period last year, the company posted a Sh969 million loss but had managed to bring in revenues amounting to Sh3 billion. EAPCC is grappling with a Sh10.8 billion debt, with its biggest creditor being KCB Group, which it owes Sh4.5 billion. The firm’s current liabilities exceed current assets by Sh7.3 billion, worsening from an insolvent position of Sh6 billion in June last year.

Source: Standard Digital March 05, 2019 21:04 UTC