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Amsons’ Bamburi takeover bid rival faces Sh90bn fraud charges

ndeta pic

Savannah Clinker Limited founder Benson Ndeta, was on Friday, November 29, 2024 arraigned in Nairobi on Ksh4.5 billion (about Tsh90.5 billion) fraud charges. PHOTO " NMG

Nairobi. The founder of a company that is currently competing with Tanzania’s Amsons Group to take over Kenyan firm Bamburi Cement is facing fraud charges.

In July, Amsons Group made a $180 million (approximately 475 billion Tanzanian shillings) offer to acquire Bamburi Cement, a move hailed by analysts as a strategic step for Tanzania to boost its economy and enhance regional competitiveness.

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