East African Cables has been acquired by Cable Experts Limited. In this transaction, TransCentury Plc (now under receivership), East African Cables’ parent company, has signed a share purchase agreement that will see the offloading of its entire 68.37% stake in East African Cables Plc to Cable Experts Limited.
This represents 173 million ordinary shares, through TransCentury’s court appointed Joint Receivers. The deal, dated May 19th 2026, includes retirement of EAC existing secured bank debt and is structured as a rescue acquisition.
Cable Experts Limited is applying to the Capital Markets Authority(CMA) for exemption from a mandatory takeover offer to minority shareholders.
East African Cables Financials
The financial wreckage of EAC Plc hit the shores in June 2023 when Equity Bank appointed at administrator over its KSh4.8 billion debt owed to the lender by TransCentury- the cable manufacturer’s parent company. EAC then moved to court and obtained an injunction.
The Capital Markets Authority and the Nairobi Securities Exchange suspended trading in East African Cables Shares after Equity Bank placed the company under administration on 20th June 2025 and appointed PwC’s George Weru and Muniu Thoithi as joint administrators.
The NSE said trading in East African Cables was incompatible with investor protection due to unresolved legal and operational uncertainty. The suspension happened alongside TransCentury Plc, EAC parent company which was placed under receivership.
The latest financial statement for EAC is for period ended 30th June 2025 where it recorded a net loss of KSh 190 million from a net loss of KSh 275million in H1 2024, a reduction of 30.9%.
EAC announced on April 29th 2026 that it will miss the statutory deadline for 2025 end year audited results due to ongoing administration and investor negotiations to restructure debt. These results will be published on 31st October 2026.
EAC is a premier cable manufacturer, with a footprint that spreads across East and Central Africa. The company has four manufacturing facilities; two in Nairobi, Kenya, one in Dar es Salaam Tanzania and one in Eastern DRC. In addition, East African Cables is present in Uganda, Rwanda, Burundi, Southern Sudan and Ethiopia, through a distribution network.
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