Benson Sande Ndeta, the proprietor of Savannah Clinker, has been arrested over allegations of a Sh700 million fraud.

He faces charges of forgery, conspiracy to defraud, obtaining credit by false pretences, and uttering false documents.

The Directorate of Criminal Investigations (DCI) uncovered the allegations, leading the Office of the Director of Public Prosecutions (ODPP) to approve charges against him.

Senior Prosecutor Jacinta Nyamosi issued warrants of arrest against Ndeta and his alleged accomplice, American national Charles Hill Jr with extradition requests for Hill being processed.

The allegations revolve around an alleged fraudulent acquisition of 4,500 shares by Savannah Cement, shifting the company's ownership.

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Investigators claim Ndeta and Hill forged corporate guarantee documents in 2017 to secure a USD35 million loan from Barclays Bank.

Hill also allegedly defaulted on a Sh700 million share purchase agreement with Savannah Heights shareholder Donald Kiboro.

Savannah Cement, once a key player in Kenya’s cement sector, now faces Sh18 billion in debt, including Sh14 billion owed to local banks.

The company was placed under administration in 2023, with its assets auctioned to settle liabilities.

Despite the turmoil, Ndeta is pursuing a Sh25.42 billion bid to acquire Bamburi Cement, outbidding rival Amsons.

Regulatory approval remains a hurdle, with Savannah Clinker requiring clearance from the Competition Authority of Kenya (CAK).

Ndeta’s legal troubles cast doubt on his Bamburi bid and his long-standing influence in the industry.

His history includes chairing East African Portland Cement in 2003 and co-founding Savannah Cement in 2012, though disputes over ownership have plagued the company since its inception.