Sarrai Group Archives – CEO East Africa

The growing influence of Sarrai Group: The company behind Kilembe Mines’ redevelopment

Paul MurungiBusiness & Markets Energy, Oil & Gas The Big StoryMarch 6, 2025March 7, 2025

On 14 April 2022, Justice Mabeya, of the High Court in Kenya cancelled a 20-year concession that had leased Mumias Sugar assets to Sarrai Group in December 2021. The termination came after a series of court cases that had accused Sarrai Group of illegally and fraudulently winning a bid offer in a process – headed by Kenya Commercial Bank (KCB)’s receivership manager P V Rao – that had failed to consider other creditors, consult the Competition Authority of Kenya and explain how Mumias would repay its creditors, among others. Whereas the cases had played out in Kenya, it touched Uganda…

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Hima Cement investor, Sarrai Group takes over Kilembe Mines with UGX 46 billion in accumulated losses

Paul MurungiBusiness & Markets Energy, Oil & Gas The Big StoryMarch 3, 2025March 3, 2025

Hima Cement investor, Sarrai Group is set to take over and re-develop Kilembe Mines based in Kasese District after signing a new agreement with the government. Hima Cement which is also based in Kasese District was acquired by Sarrai Group last year at a transaction value of USD 120 million. The investor signed a mineral production sharing agreement on March 3rd with Energy Minister Ruth Nankabirwa, and Finance Minister Matia Kasaija representing government as signatories. Sarrai Group Ltd and Nile Fibreboard Ltd emerged as the best bidders out of the 14 firms that expressed interest. According to Minister Nankabirwa, this…

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