Regulatory gaps, discounts: Red flags mount over EAPC stake sale

A parliamentary committee probing the proposed sale of a substantial stake in East Africa Portland Cement (EAPC) has uncovered alarming irregularities, primarily surrounding a massive share discount and critical regulatory omissions.

Among the troubling concerns unearthed by the National Assembly’s Committee on Trade, Industry, and Cooperatives is the glaring absence of approval from key government agencies.

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`;
} else {
teaserEl.innerHTML = “”;
}

activeEl.innerHTML = “”;
paywallEl.style.display = “block”;

} else if (now >= saleStart && now <= saleEnd) {
paywallEl.style.display = “none”;

var diffToEnd = saleEnd – now;
var totalSeconds = Math.floor(diffToEnd / 1000);
var days = Math.floor(totalSeconds / (24 * 3600));
var hours = Math.floor((totalSeconds % (24 * 3600)) / 3600);
var minutes = Math.floor((totalSeconds % 3600) / 60);
var seconds = totalSeconds % 60;

activeEl.innerHTML = `

Offer ends in…

${days}Days
${String(hours).padStart(2,’0′)}Hours
${String(minutes).padStart(2,’0′)}Minutes
${String(seconds).padStart(2,’0′)}Seconds

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`;
} else {
teaserEl.innerHTML = “”;
activeEl.innerHTML = “”;
paywallEl.style.display = “block”;
}
}

function formatTime(ms) {
let totalSeconds = Math.floor(ms / 1000);
const days = Math.floor(totalSeconds / (3600 * 24));
totalSeconds %= 3600 * 24;
const hours = Math.floor(totalSeconds / 3600);
totalSeconds %= 3600;
const minutes = Math.floor(totalSeconds / 60);
const seconds = totalSeconds % 60;
return `${days}d ${hours}h ${minutes}m ${seconds}s`;
}

updateFlashSale();
setInterval(updateFlashSale, 1000);

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A parliamentary committee probing the proposed sale of a substantial stake in East Africa Portland Cement (EAPC) has uncovered alarming irregularities, primarily surrounding a massive share discount and critical regulatory omissions.

Follow The Standard
channel
on WhatsApp