Loss-making East African Portland Cement Company (EAPCC) has stepped up the search for a buyer to snap-up part of its vast parcel of land for at least Sh10 billion to help it clear mounting debts owed to KCB Bank and suppliers, and unlock fresh funding to keep it afloat.
The cash-strapped firm said it is yet to find a “suitable” buyer for 2,076 acres, which shareholders voted to sell at an extraordinary general meeting in September 2019 to rescue it from insolvency after years of mismanagement amid a slowdown in property markets.
