Pradeep Paunrana (born 1959) is a businessman, entrepreneur, industrialist and philanthropist in Kenya, the largest economy in the
East African Community. He is the former managing director of
ARM Cement Limited
ARM Cement Limited, formerly Athi River Mining Limited, but commonly referred to as ARM is a mining and manufacturing company in Kenya, the largest economy in the East African Community. The company is headquartered in Nairobi and its stock is li ...
, one of the leading cement manufacturers in Eastern Africa.
Background and education
He was born in 1959 and was educated in Kenyan schools. He attended
New York University Stern School of Business (NYU Stern), graduating in 1983, with the degree of
Master of Business Administration (MBA). His father, the late ''Harjivandas J. Paunrana'', who had dropped out of school at age 13, made sure his son received a good solid education.
Career
From 1983 until 1984, Pradeep worked at a software company in New York, earning US$40,000 annually. He returned to Kenya in 1984, at the age of 24 at the request of his father who handed him the keys to the business in exchange for a percentage ownership, but no salary. Pradeep, therefore became the managing director of ''Athi River Mining Limited'', as the company was known at the time.
From annual sales of KSh6 million (approx. US$70,000) in 1984, the business has grown to annual sales of KSh14 billion (approx. US$160 million), in 2014. In 1994, the company which started with manufacturing fertilizer, animal feeds, ceramics, glass and plastics, began making cement for the first time. In 2007, the company which had changed names to
ARM Cement Limited
ARM Cement Limited, formerly Athi River Mining Limited, but commonly referred to as ARM is a mining and manufacturing company in Kenya, the largest economy in the East African Community. The company is headquartered in Nairobi and its stock is li ...
listed its shares on the
Nairobi Securities Exchange (NSE). Over the years, the company has grown into the largest manufacturer of cement in East Africa, producing 2.6 million tonnes annually. Pradeep Paunrana, personally owns 18% of the company shares, making him one of the wealthiest individuals in Kenya.
Other responsibilities
He is the current chairman of the Kenya Association of Manufacturers.
See also
*
Indian diaspora in East Africa
*
List of African millionaires
*
List of wealthiest people in Kenya
The following is a list of Kenya's richest. It is based on an annual assessment of wealth and assets compiled and published by ''Forbes'' magazine.
Kenya is the largest economy in the East African Community, the 3rd largest economy in Sub-Saharan ...
References
External links
Webpage of ARM Cement Limited
{{DEFAULTSORT:Paunrana, Pradeep
Living people
1959 births
Kenyan people of Indian descent
Kenyan businesspeople
Kenyan people of Gujarati descent
Kenyan philanthropists
Kenyan business executives
New York University Stern School of Business alumni
Alumni of the University of Manchester