The COVID-19 pandemic has done nothing to derail long-term prospects for Kenya’s per head cement demand to double, Seddiq Hassani, CEO of Bamburi, tells The Africa Report.
Hassani sees 300kg per head, versus about 150kg now, as a realistic consumption target which would bring Kenya into line with North African countries. “We’ll get there for sure,” he says. Bamburi, majority owned by LafargeHolcim, is Kenya’s largest cement producer and trades on the Nairobi stock exchange.
Kenya needs cement to be able to take advantage of the opportunities arising from the Africa Continental Free Trade Agreement (AfCFTA). Exports such as flowers, tea and food need increased road, rail and port capacity. Housing will also drive cement demand: the International Finance Corporation estimates that Kenya has a housing shortfall of 2m units. “There’s a strong willingness now to develop infrastructure,” says Hassani. Read More.