The Competition Authority of Kenya (CAK) has dismissed concerns that Tanzanian tycoon Edhah Abdallah Munif’s acquisition of an extra 29.2 percent stake in East Africa Portland Cement (EAPC) will give him control over the company’s board and a dominant position in the cement sector.
CAK Director General David Kemei told the National Assembly’s Committee on Trade, Industry and Co-operatives that the proposed deal will not hand the businessman control or veto powers in the EAPC board.
