Pradeep Paunrana
| Pradeep Paunrana | |
|---|---|
| Born |
Pradeep Paunrana 1959 (age 55–56) Nairobi, Kenya |
| Nationality | Kenyan |
| Alma mater |
University of Manchester (BA in Accounting & Finance) New York University Stern (Master of Business Administration) |
| Occupation | Businessman, Industrialist, Entrepreneur, Philanthropist |
| Years active | 1984–present |
| Home town | Nairobi |
| Title |
Managing Director & CEO ARM Cement Limited |
Pradeep Paunrana a businessman, entrepreneur, industrialist and philanthropist in Kenya, the largest economy in the East African Community. He is the current Managing Director of ARM Cement Limited, one of the leading cement manufacturers in Eastern Africa.[1]
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.[2]
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 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.[3][4]
Other responsibilities
Pradeep Paunrana is a married father of four, three daughters and one son. 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
References
- ↑ Mulupi, Dinfin (7 February 2014). "Meet The Boss: Pradeep Paunrana, Managing Director, ARM Cement". HowWeMadeItInAfrica.Com. Retrieved 17 October 2014.
- ↑ Manson, Katrina (9 September 2014). "Kenya’s ARM Cement Comes Through A Mix of Fortunes". The Financial Times (London). Retrieved 17 October 2014.
- ↑ Biko, Jackson (12 September 2013). "It All Started With A Bunch of Keys". Business Daily Africa (Nairobi). Retrieved 17 October 2014.
- ↑ Maina, Wangui (16 December 2013). "Who Are Kenya's Wealthiest?". Business Daily Africa (Nairobi). Retrieved 17 October 2014.