The National Assembly Departmental Committee on Trade, Industry & Cooperatives engaged the Managing Director for East African Portland Cement (EAPC) Ltd, Mr. Oliver Kirubai, and the PS for the State Department of Industry, Dr. Juma Mukhwana in regard to the dwindling performance of EAPC Ltd.

The company registered a 71.3 percent reduction in profits after tax by June 2022 and is facing challenges from squatters and grabbers who are in possession of fake title deeds.

Led by the Chairperson, Hon. James Gakuya, the Committee sought to understand the turnaround strategy put in place for reviving EAPC Ltd. In addition, the Committee sought to establish the reasons for the company's heavy debt.

On behalf of the CS for the Ministry of Investment, Trade, and Industry, Dr. Juma Mukhwana asked for Trade Committee's protection and intervention to assist EAPC Ltd conclude the court cases lodged by the squatters & land grabbers. The PS also requested the Committee to assist the company sell some of its land to enable them to explore the opportunities that they have, for instance, the production of limestone.

In his response, Mr. Oliver Kirubai told the Committee that EAPC Ltd had already settled the debts that were owed to the financial lending institutions and that the company is indebted to the Government of Kenya (GOK), Kenya Review Authority (KRA), and Japan International Cooperation Agency (JICA).

In a bid to drive operating excellence and compete favourably in the market, Mr. Kirubai told the Committee that engagement meetings were ongoing with the two major shareholders; National Social Security Fund (NSSF) and the National Treasury, to consider releasing their shares to enable EAPC Ltd to comply with the CMA regulations.

To fully reposition EAPC Ltd back to profitability, Mr. Kirubai said that the company intends to conclude the remaining phases of the plant refurbishment and requested the Committee's support that can see the company get the working capital to drive operational excellence, cost leadership and offset the debts owed to the company.

In his closing remarks, Hon. Gakuya said the Committee will not allow the EAPC Ltd. to go on its knees and that, it will schedule meetings with the National Lands Commission, Kenya Railways Corporation, NSSF, and the National Treasury in an effort to address wholesomely the issues that EAPC Ltd is currently grappling with.

Trade, Industry & Cooperatives Committee is mandated to investigate, inquire into, and report on all matters relating to the mandate, management activities, administrations, operations, and estimates of the assigned Ministries and Departments; and study the program and the policy objectives of the Ministries, Departments and the effectiveness of the implementation.