Parliament has questioned Tanzanian tycoon Edhah Abdallah Munif’s bid to purchase an additional 29.2 percent stake in East Africa Portland Cement (EAPC) amid concerns that he would dominate the board of the firm and share trade secrets with a rival company.
The Committee on Trade, Industry, and Cooperatives raised concerns that Mr Munif, through his investment vehicle, Kalahari Cement Limited, may dominate EAPC voting rights and strategic direction with his increased 41.75 percent stake.