East Africa’s cement industry is undergoing a dramatic transformation, driven by three billionaires who have invested a combined Sh133 billion to secure dominance. Over the past three years, Narendra Raval, Sarbjit Singh Rai, and Edha Nahdi have expanded aggressively through acquisitions, new production facilities, and strategic raw material control in Kenya, Uganda, Tanzania, and Rwanda. Their actions have consolidated what was once a scattered market into a tightly controlled three-player competition.
Devki Group’s acquisition of a 99.94% stake in Rwanda’s Cimerwa Plc for Sh13.6 billion gave Raval’s company a controlling foothold in the Rwandan market. Meanwhile, Nahdi’s Amsons Group has been the most active buyer, spending Sh51.6 billion to take over Kenyan cement producer Bamburi Cement and securing a 65% stake in Tanzania’s Mbeya Cement. The group also acquired the Kenyan government’s share in East African Portland Cement for Sh1.6 billion, expanding its operations beyond Kenya’s borders.
Rai’s Sarrai Group is now advancing deeper into Kenya with plans for a new plant in Nyeri, complementing its existing operations in Kisumu, Uganda, and Rwanda. This expansion targets Kenya’s central region, where construction activity is surging due to major infrastructure development. The three billionaires are not only acquiring production facilities but also locking down essential raw materials. Devki Group, for instance, announced a Sh45 billion clinker plant in West Pokot, a limestone-rich area that will secure a reliable supply chain for its operations.
This consolidation coincides with two major industry shifts. First, foreign investors are withdrawing from the region. Holcim, the Swiss multinational that once dominated Kenya’s cement market, has been selling its stakes in Bamburi and East African Portland Cement. These exits have created opportunities for well-funded local competitors. Second, regional governments are divesting from what they now classify as non-core sectors, transferring state-owned assets into private ownership. As a result, control of the industry is shifting from multinational corporations and government entities to a small group of African billionaires.
A defensive strategy also underpins their moves. Chinese cement giant Huaxin Cement has been rapidly expanding across sub-Saharan Africa, acquiring stakes in Nigeria, South Africa, Zambia, and Malawi. By acting quickly, Raval, Rai, and Nahdi are ensuring that East Africa’s cement supply remains within African hands. Their approach goes beyond market share—they are working to prevent foreign companies from establishing a dominant position in the region.
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