The 60 year old, Narendra Raval, is the founder of Devki Group, which produces cement, steel products, and mabati (with Sh100 billion annual revenues) is without a doubt one of Kenya’s most successful entrepreneurs and philanthropists. Guru, as he is fondly referred to by his friends, is self-made and has a combination of ruthless business strategies, tactical brilliance, and a passion for philanthropy that makes him an enviable character that any aspiring business person can learn from.Meet Narendra Raval, the Billionaire who rides boda boda
How a Ruiru Billionaire Born into Poverty Lives Like He's Broke Yet He is worth a Stunning KES 50 Billion
Imagine having all of the wealth in the world but still living in poverty. Even if he is a billionaire on record, he chooses to live and keep a low profile. According to Forbes' list of Africa's 50 wealthiest persons, Narendra Raval who is 58 years old is worth a stunning KES50 billion.
Narendra Raval alias Guru is an Indian but he has lived the best part of his life in Kenya. He was born from a humble background in Gujarat village, India 1962. He is a reknown industrialist, businessman, philanthropist and tycoon who rose from grass to grace rising from being a priest to one of the top 40 billionaires in Africa with a networth of 650 billion.
According to the Businessdailyafrica there are about 400 billionaires in Kenya. Most of these people have highly invested in businesses. According to a research based on site such as ugwire.com,bussinessdailyafrica and forbes.com , this is the list of the richest persons in Kenya. 1. Vimal Shah
Mumias Sugarcane farmers have hit the road for the second time to protest over investor Narendra Raval of Devki company's withdrawal in the revival of the Mumias Sugar belt. The angry farmers led by the Deputy President William Ruto's longtime confidant Rashid Echesa demonstrated from Ekero in Mumias town to Moyoni in Matungu Constituency as they accused the Kakamega senator Cleophas Malala, Bungoma senator Moses Wtangula and ANC party leader Musalia Mudavadi for laying hostile ground to the investors.
Narendra Raval Steel tycoon Raval is the founder of the Kenyan conglomerate Devki Group, which manufactures steel products, roofing sheets, and cement. The $ 500 million company manufactures cement, rebar, and barbed wire. The Group's cement division, the National Cement Company, manufactures Kenya's best-selling Simba cement.
Peter Selasia, Mumias East Member of parliament was roughed up at a funeral for dragging Former Minster of Finance Musalia Mudavadi's name into the woes ailing Mumias Sugar company. In his speech the was forced to cut short his speech after mentioning Mudavadi's name. “ Mumias was a parastatals owned by the government until Musalia Mudavadi took over the ministry of Finance, changing everything to allow Mumias to be privatised, he is to be blamed for the current happenings to Mumias Sugar company" he said resulting into mixed reactions from the congregation.
Narendra Raval is among the richest people in Kenya,he is commonly known as Guru because he comes from a caste of priests.In 2015,this man was ranked among the top 50 richest Africans with an estimation of 50 billions by Forbes. Photo:Narendra Raval(Facebook)By Aaron Mulla
Mr Narendra Raval is not only one of the wealthiest men in the country, but also one of the most powerful, and head of the major conglomerate, Devki Group However, this time he went too far, and the government’s regulatory body is now on him.
Narendra Raval (Guru), the Chairman Devki Group of Companies withdrew bid to revive Mumias Sugar Company. The withdrawal came after ANC leader Musalia Mudavadi called for full transparency in the take over process, a move that attracted a lot of political inteference. Dr Boni Khalwale on Saturday evening gave his take on the issue.
Steel tycoon Narendra Raval had previously announced that he was ready to takeover the running of Mumias Sugar Company on lease if politics around the miller stopped. The company was a great boost to the western economy and it's collapse has really affected the region. The tycoon later stepped aside claiming that there was interference from regional politicians who had attached some demands on his take over.
The Mumias Sugar Company for a number of years has been on its death bed having accumulated large debts resulting from outstanding loans, taxes, penalties, and fines due to the government. The company that greatly benefited the farmers of Kakamega County stopped its production merely three years ago and went under receivership for being unable to run.
The steel tycoon had shown shown his interest in reviving Mumias sugar company through leasing bid.The steel billionaire was among the eight high profile investors eyeing leasing deal of fifteen billion Kenyan shillings assets of ailing Mumias sugar company and now he has decided to withdraw his leasing deal from the company.
Kakamega Governor Wycliffe Oparanya has warned those trying to thwart the revival of the Mumias Sugar factory. Governor Oparanya Governor Oparanya has spoken out just a few weeks after an investor who wanted to revived the Mumias Sugar withdrew after politicians from western Kenya complained about his intention to revive the factory.
This week saw an escalation of accusations and insinuations that threatened to spiral out of control, even forcing the media-shy billionaire, Narendra Raval, to withdraw his offer of 5 billion for the leasing of the Mumias Sugar Company. Cleophas Malala, a senator from Kakamega, led a spirited and sustained attack on the Kenya Commercial Bank's decision to offer a direct lease to Raval's Devki Group of Companies after the company was placed in receivership.
Some Western leaders, led by Kakamega Senator Cleophas Malala, foiled billionaire Narendra Raval of Devki Steels' efforts to lease Mumias Sugar Company on the grounds that the arrangement was not above board. Last week, Senator Malala was heard saying at a funeral that he objected efforts by Devki to lease the troubled miller to have a fair process where all stakeholders together with the members of the public would witness the exercise for transparency purposes.
Former Kakamega County Senator ,Dr Boni Khalwale, has staged a new fight with ANC PL Musalia Mudavadi and the current Kakamega County Senator, Cleopas Malala. (Photo Courtesy/Mudavadi & Malala) The tussle comes as a results of latest statement from Devki Group Limited Executive Chairman, Mr Narendra Raval over the halted Company's bid in Kakamega County.
Mumias sugar cane farmers are in demonstration from Ekero in mumias town to Mayoni in Matungu constituency as Devki withdrew from the process of reviving the factory claiming political interference. Devki group chair Narendra Raval is ready to start the revival of Mumias sugar company from next month if stakeholders and the receiver manager approve his bid.Devki withdraws bid to lease Mumias sugar company in receivership after a group western Kenya politicians demand for kickbacks.
Dr. Boni Khalwale addressing mourners in Makunga, Mumias East during the burial of Mzee David Kweyu Mango, 87, on Saturday 5th May 2021. Former Kakamega Senator Dr. Boni Khalwale has issued a stern warning to a section of politicians from Western Kenya region over what he termed as interference in the process of reviving Mumias Sugar Company.
Kakamega county governor Oparanya has promised to revive mumias sugar company before his time to exit office knocks so as to help the sugarcane farmers. "As Governor of Kakamega, i will not allow individuals to derail the process of reviving Mumias Sugar Company for their political interests at the expense of cane farmers & workers who depend on the Company.Before I leave office, I will ensure the company is up and running", added Governor Oparanya.