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How British fund shot itself in the foot in Sh14b ARM venture

Former Athi River Mining MD Pradeep Paunrana

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.

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