Hima Cement, the East African producer owned by Uganda’s Sarrai Group, has emerged as the leading bidder to acquire Zimbabwe’s Khayah Cement, according to corporate rescue practitioner Bulisa Mbano of Grant Thornton.
Sarrai previously purchased Hima Cement from global cement giant Holcim, which exited several African markets, including Zimbabwe.
Khayah Cement (formerly Lafarge Zimbabwe) was sold by Holcim to Fossil Mining in 2022 for US$29.7m. However, by 2024 the business was struggling under heavy debt, neglected maintenance, and weak management. The company was placed under corporate rescue that year, with Mbano appointed to stabilise operations and attract fresh investment.
