Kenya's Industrialisation Cabinet Secretary has announced efforts to attract investors for the struggling East Africa Portland Cement Company (EAPCC), citing management failures as a key factor in its decline.
The firm, which reported a 25% drop in 2019 full-year earnings compared to 2018, issued a profit warning citing market sluggishness, rising input costs, and production challenges. It now carries KSh10.8 billion in debt and recently laid off 620 employees demanding Sh1.5 billion in unpaid dues.
