Serrari Group

Bamburi Cement Wraps Up Sale of Ugandan Subsidiary, Potential Special Dividend in Sight

Bamburi Cement has successfully concluded the sale of its entire stake in Hima Cement, its Ugandan subsidiary, fetching an estimated $84 million. This strategic move has investors eyeing the possibility of a special dividend.

The sale, finalized on March 5, involved offloading Bamburi’s 70 percent stake to a consortium led by Sarrai Group and Rwimi Holdings. With regulatory approvals secured and shareholder consent obtained, Bamburi Cement is now flush with funds, potentially enabling a special dividend payout.

Investor anticipation is further fueled by the imminent announcement of Bamburi’s financial results for the year ending December. This has propelled Bamburi’s share price close to its 52-week high, currently standing at Ksh42.50 ($0.30).

The prospect of a special dividend comes as a welcome relief for shareholders following a significant dividend cut last July, attributed to a sharp decline in net profit. While Hima Cement historically had limited dividend distributions, Bamburi Cement’s stronger financial performance suggests a favorable outlook for investors.

By divesting its stake in Hima Cement, Bamburi aims to streamline its operations and focus on enhancing its presence in Kenya. The completion of this transaction, approved by shareholders in December 2023, marks a strategic shift for Bamburi Cement.

This development underscores Bamburi Cement’s commitment to unlocking value for shareholders and reinforces its position as a leading player in the region’s cement industry.

photo source: Google

By: Montel Kamau

Serrari Financial Analyst

11th March, 2024

Share this article:
Article and News Disclaimer

The information provided on is for general informational purposes only. While we strive to keep the information up to date and accurate, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk. is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information on the website is provided on an "as-is" basis, with no guarantee of completeness, accuracy, timeliness, or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

In no event will be liable to you or anyone else for any decision made or action taken in reliance on the information provided on the website or for any consequential, special, or similar damages, even if advised of the possibility of such damages.

The articles, news, and information presented on reflect the opinions of the respective authors and contributors and do not necessarily represent the views of the website or its management. Any views or opinions expressed are solely those of the individual authors and do not represent the website's views or opinions as a whole.

The content on may include links to external websites, which are provided for convenience and informational purposes only. We have no control over the nature, content, and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorsement of the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

Please note that laws, regulations, and information can change rapidly, and we advise you to conduct further research and seek professional advice when necessary.

By using, you agree to this disclaimer and its terms. If you do not agree with this disclaimer, please do not use the website., reserves the right to update, modify, or remove any part of this disclaimer without prior notice. It is your responsibility to review this disclaimer periodically for changes.

Serrari Group 2023