Kenyan cement tycoon Benson Ndeta faces arrest over $34.8 million Absa Bank fraud

Benson Sande Ndeta, Kenyan businessman and cement industry executive, along with U.S. national Charles Hills Jr, are facing arrest following a magistrate’s court order over allegations of orchestrating a $34.84 million bank fraud, one of the largest in recent Kenyan history.

The warrant was issued on March 6, 2026, after both failed to appear in court to take a plea on serious criminal charges.

Fraud allegations and court proceedings
Milimani Senior Principal Magistrate Carolyne Mugo directed police to apprehend the two men, setting a new court date of March 18, 2026.

Prosecutors allege the pair used fraudulent documents to secure a multi-million-dollar credit facility from Absa Bank Kenya, formerly Barclays Bank of Kenya, between February 2017 and January 2018.

The charges include conspiracy to defraud, obtaining credit by false pretences, forgery, uttering forged documents, and irregular registration of a certificate of indemnity linked to the loan facility.

According to the prosecution, Hills Jr allegedly induced the bank to accept security documents falsely representing Savannah Cement Limited. Ndeta, who nearly took over Bamburi, is accused of preparing and submitting forged corporate documents, including guarantees, indemnity forms, subordination agreements, and board meeting extracts from Savannah Heights Limited, all presented as genuine records. A previous High Court petition by Ndeta seeking to block the prosecution was dismissed, clearing the way for trial.

Ndeta’s industrial footprint and controversies
Benson Ndeta, first widely known as chairman of East African Portland Cement Company (EAPCC) in 2003, turned the struggling firm profitable before leaving in 2008 to launch his ventures. He co-founded Savannah Cement Limited in 2012, quickly capturing Kenyan market share, and later launched Savannah Clinker Limited in 2019, securing around Ksh65 billion ($503.27 million) to build a clinker processing plant in Kitui County. In 2024, Ndeta made headlines with a high-profile bid to acquire Bamburi Cement, offering a premium to keep the firm under Kenyan ownership.

Ndeta’s career, marked by industry leadership and expansion, has also been shadowed by legal controversies, particularly allegations surrounding the Absa Bank loan. As of March 6, both Ndeta and Hills Jr remain at large, with law enforcement tasked to ensure their appearance at the next hearing.

This case underscores the growing scrutiny on corporate governance and financial practices within Kenya’s fast-expanding cement and construction sectors.