Executives

Benson Ndeta: Man Who Nearly Took Over Bamburi

His company, Savannah Clinker Limited, proposed acquiring Bamburi for Sh27.78 billion.

Updated on

January 1, 2025

Benson Ndeta, a name that has resonated in Kenya’s business circles for over two decades, made headlines in August with his bold attempt to acquire Bamburi Cement.

His firm, Savannah Clinker Limited, proposed the acquisition of Bamburi at Sh25.41 billion, higher than what the Tanzanian conglomerate Amsons Group had offered—Sh23.59 billion.

At Sh70 per share, the Ndeta bid represented a 7.7% premium.

Being a Kenyan-owned entity, he claimed, positioned Savannah Clinker better for integrating with Bamburi’s operations compared to Amsons, which is based in Dar es Salaam. Later, he raised his offer to Sh75 per share to strengthen his position.

Ndeta, a seasoned entrepreneur, was no stranger to high-stakes deals, but this bold move—to take over Kenya’s largest cement company—put him back in the spotlight.

Born in 1972 with a deep interest in architecture, Ndeta holds a Bachelor of Architecture from Jomo Kenyatta University of Technology. He is a member of the Architectural Association of Kenya’s Architects and Construction Project Management Chapters.

In 2003, at just 31, Ndeta was appointed to steer the East African Portland Cement Company (EAPCC) out of financial turmoil. As chairman of the board, he achieved the near-impossible: turning the company around in a year and transforming it into a profit-making enterprise.

By the time he left EAPCC in 2008, the company had doubled its production capacity, and its reserves had soared to Sh4 billion. His tenure became a benchmark for visionary leadership.

After EAPCC, Ndeta founded Savannah Cement. Built from the ground up, the company quickly established itself as a force in Kenya’s cement industry. However, after several legal battles with former business partners, he ceded his stake to a third party in November 2022.

Undeterred, Ndeta—who has extensive experience in architecture and interior design, having worked at Ambience Interior Designs, Emms Architects, and Design Arch-International—launched Savannah Clinker in 2019 to reduce Kenya’s reliance on expensive imported clinker, a key raw material in cement production.

Ndeta’s clinker factory in Kitui County quickly made waves, and it wasn’t long before his ambition turned towards Bamburi Cement. However, his takeover ambitions were met with obstacles.

Last month, he was arrested amid legal troubles involving allegations of conspiring to defraud Absa Bank of Sh4.5 billion. The arrest led to speculation, with former Vice President Kalonzo Musyoka suggesting that the charges were politically motivated to derail his bid for Bamburi.

“The arrest of Kenyan industrialist Benson Sande Ndeta today [November 28] is intended to stop his bid for Bamburi Cement,” Musyoka said on the day of his arrest.

Despite these troubles, Ndeta remained resolute in his pursuit of Bamburi. However, on 4 December 2024, he withdrew the bid, citing ongoing legal challenges and the Capital Markets Authority’s refusal to extend the deadline for the acquisition.

In a statement, Savannah Clinker explained that the withdrawal was due to “the recent well-publicised arrest and indictment of the Chairman and main shareholder” and a lack of extension for due diligence.

The move left Amsons Industries as the frontrunner for the acquisition of Bamburi, with their Sh23.6 billion bid now likely to be accepted.