By Prudence Minayo
Cement is among Kenya’s fastest-moving product in the construction industry. With dozens of construction and renovations happening daily, it is consumed at a very high rate. WoK has listed the Kenyan billionaires whose companies dominate the cement sector.
Narendra Raval
Considered one of the richest men in Kenya, Narendra Raval controls the Devki Group of companies. He made his fortune through steel before adding cement to his portfolio. Known for his philanthropy, he publicly stated that he would leave half of his wealth to charity and the remaining half to his children. He is one of the largest cement manufacturers having added struggling cement companies to his conglomerate. In 2019, he bought the struggling Athi River Mining (ARM) for $50 million.
Devki group owns Maisha Mabati Mills Limited, Maisha Packaging Company, Devki Steel Mills, Northwood Aviation Limited and a number of cement companies: Simba cement, ARM Cement, National Cement and Cemtech.
Devki also had interests in Sosian Energy, an independent Kenyan power builder which has permission to construct a 35 megawatts geothermal power station in Menengai Crater. The ownership was reportedly sold to Gideon Moi.
Hasmukh (Hasu) Patel
Hasu Patel is the founder and CEO of Mombasa Cement Limited (MCL)-a company that has been in existence since 2007. He also serves as director of Corrugated Sheets Limited. The factory sits on 2000 acres of land and is said to control 20% of the local market and amassing yearly revenues of USD 40 million. The company has the capacity to produce at least 1.8 million metric tonnes of cement and one million metric tons of clinker.
Known as the shy philanthropist, he has contributed a lot in the improvement of lives for the society’s underprivileged. In 2008, he established a feeding program known as Sahajanad feeding center. According to KTN, it nourishes over 40,000 people. He is also the man behind Sahajanad Special School that provides basic needs and education for over 5000 pupils. He supplies slum dwellers with three trucks of water during weekdays and four during weekends.
In 2013, his company settled Sh2.2 million medical bills for 52 patients at the Coast Regional Hospital. He has also been involved in the rehabilitation of Kibarani dump site. Mombasa residents know him as a very philanthropic man and these are just but a few of his deeds.
Benson Sande Ndeta
He owns majority shares at Savannah Cement Investment. The company valued at over Sh10 billion was founded by Chinese investors and two Kenyans named Donald Mwaura and John Gachanga. Benson graduated with a degree in architecture from Jomo Kenyatta University of Science and Technology. He has worked for different firms where he gained experience in commercial properties and luxury apartments among others. He is the founder of Tran-Africa Power and Tron Logistics.
The entrepreneur has previously served as chairman of East African Portland Cement Company and is a director of Rapid Communications Limited.
Mr. Ndeta served as the chairman of Savannah cement before buying out the Chinese investors in 2015. He then owned 60% shares while the initial owners retained their 40%. This has come with its challenges which have led to court battles between the shareholders.
