How British fund shot itself in the foot in Sh14b ARM venture - 5 months ago, 23 Sep 00:20
A development finance institution owned by the UK government through the Department for International Development was scouting for cement firms in Sub Saharan Africa when they came across Athi River Mining (ARM) in Kenya.
ARM had positioned itself for the regional market with a strategic clinker outfit in Tanga that would give the company leverage to sell raw materials in Kenya and the East Africa region including Rwanda, Burundi and the Democratic Republic of Congo.
“Tanga is a strategic investment 606km from Athi River which is where all the grinding plants are. It is 380 kilometres from Dar es Salaam where our other plant is and it is 178 kilometres from Mombasa market. Tanga itself has its own market which can supply the lake zone to the central part of Tanzania,” said then ARM Managing Director Pradeep Paunrana.
“In this business, in the long term you can make a good margin if you are a clinker producer. We ...
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The government has re-instated the license of the troubled Ekeza Savings and Credit Cooperative Society which was cancelled last year. Commissioner of Cooperatives Mary Mungai in a Kenya Gazette ...Category: business