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Tanzania’s Amsons makes $180m Kenya's Bamburi buyout offer

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  Tanzania-based conglomerate with diverse interests in energy, construction, food and transport has made a $180 million bid to acquire the entire stake of Bamburi Cement in what will mark one of the largest takeover deals in the East African region. Amsons Group, which is a family-run business with operations in Tanzania, Zambia, Malawi, Mozambique, Democratic Republic of Congo and Burundi said Wednesday it has signed a binding offer with Bamburi Cement. The deal could see Bamburi, one of Kenya’s iconic blue-chip companies, delisted from the Nairobi Securities Exchange. Amsons Group Managing Director Edha Nahdi said the proposed deal will deepen the group’s position in the cement sector in East Africa as part of the regional economic development and market integration ideals. “We have great plans to deepen our investment in Kenya and in Bamburi,” said Mr Nahdi on the impending deal. “Our offer to acquire shares in Bamburi is part of our corporate market expansion plan and wil...
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Biden falters as Trump unleashes falsehoods during presidential debate

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  US President Joe Biden delivered a shaky, halting performance while his Republican rival Donald Trump battered him with a series of often false attacks at their debate on Thursday, as the two oldest presidential candidates ever exchanged personal insults ahead of the November election. The two men traded barbs on abortion, immigration, the wars in Ukraine and Gaza, their handling of the economy and even their golf games as they each sought to shake up what opinion polls show has been a virtually tied race for months. Biden's allies tried to put a brave face on the evening, and two White House officials said Biden had a cold. But the president's poor performance rattled his fellow Democrats and will likely deepen voter concerns that the 81-year-old is too old to serve another four-year term.
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UK's Labour sweeps to power as Rishi Sunak concedes election defeat

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  Keir Starmer will be Britain's next prime minister with his centre left Labour Party expected to win a huge majority in a parliamentary election, ending 14 years of often tumultuous Conservative government by trouncing Rishi Sunak's party. With many results still to be announced from Thursday's vote, centre-left Labour has already won more than 326 of the 650 seats in parliament, with an exit poll suggesting it would capture about 410. On a humiliating night for Sunak, the Conservatives have so far only won 70 and were predicted to suffer the worst performance in the party's long history with voters punishing them for a cost of living crisis, failing public services, and a series of scandals. "Tonight, people here and around the country have spoken and they're ready for change, to end the politics of performance, a return to politics as public service," Starmer said after winning his seat in London. "The change begins right here ... You have voted. ...
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