ARM set to dispose its Rwanda and South African subsidiaries to pay oits debt

AFRICA – Athi River Mining (ARM) a cement mining and manufacturing company, is set to dispose its subsidiaries in Rwanda and South Africa, a move that brings it closer to delisting from the NSE.  According to the company, they intend to use the income from disposals to pay off its US$284 million debt owed to creditors in Kenya (US$170 million), Tanzania (US$110 million), and Rwanda (US$4 million).  In Rwanda, the company is looking to sell its grinding plant — Kigali Cement plant in Nyarugenge District.  ARM Cement went under administration in…

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