Benson Ndeta, a businessman and the Chairman of Savannah Cement, was recently arrested for alleged fraud involving a Ksh 4.5 billion scheme related to the company.
His arrest has sparked political controversy, with claims that it aims to obstruct his bid to acquire Bamburi Cement amid competing offers.
Ndeta has served on various boards, including the SOS Children’s Villages, and is known for his entrepreneurial ventures in the cement industry.
Education
Ndeta holds a Bachelor of Architecture degree from Jomo Kenyatta University of Technology.
He is a registered architect and a member of the Architectural Association of Kenya, contributing to the Architects and Construction Project Management Chapters.
Ndeta has also served on the Commonwealth Association of Architects Validation Team, overseeing university accreditation standards.
Entrepreneurial career
In the early 2000s, Ndeta recognized the potential for growth within Kenya’s construction sector, particularly in cement production.
This insight led him to pivot from architecture to entrepreneurship, focusing on establishing a business that could meet the increasing demand for quality cement in the region.
In 2012, Ndeta co-founded Savannah Cement, which quickly became a significant player in the Kenyan cement market.
Savannah Cement distinguished itself through innovative production techniques and strategic location.
The company invested in modern technology and eco-friendly manufacturing processes, which helped it produce high-quality cement efficiently.
Despite facing competition from established brands, Savannah Cement grew rapidly, capturing a substantial share of the market.
In 2015, Ndeta executed a strategic buyout of his Chinese partners, gaining majority control of Savannah Cement.
Under his stewardship, Savannah Cement expanded its product range and increased its production capacity.
In addition to Savannah Cement, Ndeta launched Savannah Clinker, further diversifying his business interests within the cement industry.
Clinker is a key ingredient in cement production, and by producing it domestically, Ndeta aimed to reduce dependency on imports and enhance local supply chains.
In late 2024, Ndeta made headlines with his ambitious bid of Ksh 25 billion to acquire Bamburi Cement, one of Kenya’s largest cement producers.
Controversies and legal issues
Ndeta’s most recent legal troubles began with his arrest on November 28, 2024, following allegations of a Ksh 700 million fraud connected to Savannah Cement.
He faces multiple charges, including forgery, conspiracy to defraud, and obtaining credit by false pretenses.
Investigators allege that he and an accomplice forged corporate documents to secure a $35 million loan from Barclays Bank for the company’s expansion efforts.
The allegations stem from a complex web of ownership disputes and financial mismanagement at Savannah Cement.
Ndeta is accused of fraudulently acquiring 4,500 shares in the company and failing to honor a share purchase agreement with a major shareholder, which has led to ongoing litigation and shareholder conflicts.
His arrest has sparked political reactions, with some leaders suggesting that it is an attempt to undermine his bid to acquire Bamburi Cement.
In addition to these charges, Ndeta’s business practices have drawn scrutiny over the years.
His initial partnership in Savannah Cement with Chinese investors ended in legal disputes after he bought out their stake, leading to years of litigation.
Furthermore, Savannah Cement has faced financial difficulties, including a Ksh 10 billion debt owed to Absa and KCB banks, which resulted in the company being placed under administration.
