Babu Owino to rally MPs to stop acquisition of Bamburi Cement by foreign investors

Bamburi Cement trucks collect cement from a Silo storage facility in Industrial area, Nairobi. [Stafford Ondego, Standard]

Embakasi East MP Babu Owino has said he will lobby other Members of Parliament to stop the planned acquisition of Bamburi Cement Company Limited by Chinese Investors.

Owino who was speaking in ="https://www.standardmedia.co.ke/article/2000127597/swiss-firm-assumes-control-of-bamburi-cement"> Parliament buildings on Tuesday

He said there are fears that once the Chinese investors acquire the company, they are going to embark on a retrenchment drive that will deprive thousands of families of their source of livelihood which he said that as Members of Parliament, they will not accept.

“I have received several complaints from Kenyans working at Bamburi Cement Company that their jobs are at stake if the company is acquired by some Chinese investors, as a ="https://www.standardmedia.co.ke/business/business/article/2001486106/bamburi-cement-on-track-to-net-zero-emissions-by-2050">Member of Parliament protecting< the interest of Kenyans I cannot remain silent as citizens are likely to lose their jobs,” said Owino.

The Opposition legislator warned the Chinese Investors to keep off the company and that he is consulting other Members of Parliament to protect their constituents who are out to lose their jobs.

While vowing to bring the matter to the floor of the house for discussion, the vocal MP said the country should not allow any investors who are out to deny citizens a right to work in companies operating in the country.

="https://www.standardmedia.co.ke/article/2000170901/bamburis-plan-to-make-owning-homes-easier">Owino said he will liaise with< other legislators to look at other companies that are likely to come up with policies that will deny Kenyans Jobs.

“We are not against any investors coming to the country but it is a matter of concern when we get information that there are some investors who want to purchase companies in our country and give jobs formerly held by Kenyans to foreigners,” said Owino.