A group of four flour mill tycoons and associates have confirmed the acquisition of bankrupt Savannah Cement of Kenya. The makers of Supa Loaf bread have invested KES3.8bn (US$29.4m) to buy the cement company that has been stricken for two-years in its search for suitable owners after KSB and Absa Bank placed the producer into receivership due to a mounting debt of KES14.1bn.
The new owners are linked to Mombasa Maize, Kitui Flour Millers and Eldoret Grains Ltd. The acquisition has been approved by the Competition Authority of Kenya (CAK) “The acquisition was approved without conditions on 25 August 2025, since it was unlikely to lead to a substantial prevention or lessening of competition and no negative public interest concerns were envisaged,” reported CAK.
Savannah Cement had previously owed KCB Bank Kenya KES8.89bn and it had owed ABsa Bank KES5.23bn.
