ARM Cement to sell non-core unit

ARM Cement is to sell its fertiliser unit in a bid to raise cast to grow its core buisiness of cement, local media reports.

The decision is part of the Kenyan company's aim to consolidate its business and focus on cost cutting, improving distribution channels as well as improving operational efficiencies.

“Further, in order to remain focused on the cement business and to raise cash and release a significant amount of working capital locked up in Mavuno Fertilizers division, the company decided to exit all of the non-cement businesses,” ARM said in a statement.