Benson Sande Ndeta is an architecture, businessman, and magnate in Kenya’s cement industry. His career has been characterised by a mix of achievements and controversies.
Educational background and professional affiliations
Benson Ndeta holds a Bachelor of Architecture degree from the Jomo Kenyatta University of Technology. He is an active member of the Architectural Association of Kenya (AAK), particularly in its Architects and Construction Project Management Chapters.
He is a registered architect with the Board of Registration of Architects and Quantity Surveyors (BORAQS) and a member of the Institute of Data Processing Management in London.
Rise in the cement industry
Ndeta’s foray into Kenya’s cement industry began with his tenure as chairman of East African Portland Cement in 2003.
In 2012, he co-founded Savannah Cement, initially a promising enterprise with a 40% stake held by Savannah Heights (a Kenyan firm) and 60% by Chinese investors.
However, this partnership later dissolved into legal disputes after the Chinese investors sold their stake to Ndeta’s Seruji Limited. This move, seen as controversial, sparked years of litigation and shareholder wrangles.
Despite these challenges, Ndeta remains a prominent player in the sector. He is currently spearheading Savannah Clinker’s Sh25.42 billion bid to acquire Bamburi Cement, offering Sh70 per share—an amount that outbids rival Amsons’ Sh65 per share offer.
While Savannah Clinker’s bid requires only approval from the Competition Authority of Kenya (CAK), Amsons must also secure endorsement from COMESA. The proposed deal is expected to conclude in February 2025.
Legal challenges and allegations
Serious allegations of fraud have recently overshadowed Ndeta’s illustrious career. He was arrested following a warrant issued by Senior Prosecutor Jacinta Nyamosi of the Office of the Director of Public Prosecutions (ODPP), after investigations conducted by the Directorate of Criminal Investigations (DCI).
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The case revolves around allegations of a Sh700 million fraud involving the fraudulent acquisition of 4,500 shares in Savannah Cement.
Investigators allege that in 2017, Ndeta and his accomplice, American national Charles Hill Jr., forged corporate guarantee documents to secure a USD 35 million loan from Barclays Bank for Savannah Cement’s expansion.
Hill is also accused of falsely claiming to be a director of Savannah Heights to facilitate the scheme.
Furthermore, Ndeta is accused of failing to honour a Sh700 million share purchase agreement with Donald Kiboro, a shareholder of Savannah Heights, exacerbating ownership disputes within the company.
Savannah Cement’s financial struggles
Savannah Cement has faced financial turbulence in recent years, with debts amounting to Sh18 billion, including Sh14 billion owed to local banks.
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In 2023, the company was placed under administration, and its assets are currently being auctioned to settle outstanding liabilities.