Tanzania miscalculation that cost ARM cement billions of shillings

ARM Cement Ltd Managing Director Pradeep Paunrana during an interview with the Standard team at his Nairobi office. Photo by WILLIS AWANDU/STANDARD

It is early 2012 and Pradeep Paunrana is the richest man on the Nairobi Securities Exchange.

Together with his family, the billionaire is worth at least Sh15 billion. Paunrana, whose family is seen as the pioneer of Kenya’s cement industry, is plotting which other market to conquer.