Kenya’s State Pension Fund denies Bamburi stake-sale plan

Kenya’s State Pension Fund denies Bamburi stake-sale plan
Published: 11 March 2011

Kenya’s National Social Security Fund will “not necessarily” sell its entire 14 per cent stake in Bamburi Cement Co., Lafarge’s Kenyan unit, disputing an earlier report, Managing Trustee Alex Kazongo said.

The state-run pension company “has not reached any decision to exit from” Bamburi, Kazongo said in statement in the Nairobi-based Business Daily today, contradicting a March 9 story the newspaper published, citing Kazongo.