According to local press reports, Athi River Mining Cement (ARM Cement) has secured a KES4.5 billion credit loan from CfC Stanbic, a financial services organisation in Kenya. The loan will reportedly allow for repayments and re-drawing, and will complement ARM Cement’s other banking facilities by providing added financial flexibility and optimal funding. The loan was arranged by CfC Stanbic’s investment banking branch.
Speaking to local media, Pradeep Paunrana, Managing Director of ARM Cement, said that he is pleased to have finalised the loan, which will contribute to ARM’s mission to becoming East Africa’s leading cement manufacturer.
ARM Cement has published its new Cement Industry Report, which provides information on the East African economy and the region’s cement and construction sectors.