Narendra Raval | |
---|---|
Born | 1962 (age 61–62) |
Nationality | Indian |
Citizenship | Kenyan |
Occupation(s) | Industrialist, Entrepreneur, Philanthropist |
Years active | 1986 - present |
Known for | Philanthropy, Entrepreneurship |
Title | Executive Chairman of the Devki Group of Companies |
Narendra Raval (born 1962) is a Kenyan industrialist, entrepreneur and philanthropist of Indian Gujarati origin. Raval serves as the Executive Chairman of the Devki Group of Companies, a conglomerate in East Africa that manufactures steel, aluminum and cement.
He is estimated to have a net worth of US$400 million as of 2015, ranking him as the 46th richest African, and 2nd richest Kenyan based on the 2015 Forbes list of Africa's richest in Kenya. [1]
Raval was born in India, circa 1962. He became a priest at the temple of the Brahmin Hindu sect at age 11, while still in India. As a teenager, Raval came to Kenya to work as an assistant priest at a temple in Kisumu, western Kenya, on the shores of Lake Victoria. In 1986, he abandoned his priesthood, married a Kenyan woman and with his wife started trading in building materials, starting out in the open marketplace (Gikomba), in Nairobi. [2] [3]
Since 1986, Raval has built an industrial empire, known as the Devki Group of Companies, which manufactures building materials in various locations in Kenya. The group has also established subsidiaries in Uganda, Rwanda and in the Democratic Republic of the Congo. As of April 2021, the Devki Group have an annual manufacturing revenue of over US$650 million, employing over 6,500 people. [3]
Raval's empire within Kenya spans steel, aluminium and cement manufacturing, with interests in aviation. Devki Group also owns a cement factory in the Ugandan border town of Tororo. [4]
In March 2022, the Devki Group divested from Sosian Energy, a Kenyan independent power producer (IPP) which owns a concession contract to build a 35-megawatt geothermal power station in the Menengai Crater. The ownership was sold to Gideon Moi for an undisclosed amount. [5]
Narendra Raval is married to Neeta Raval, a medical doctor,with whom he has fathered three children two sons and a daughter. [3] [6]
Narendra Raval is a passionate philanthropist, and has publicly pledged to leave 50 percent of his wealth to charity and the remaining 50 percent to his children. [6] His autobiography, entitled "Guru: A Long Walk To Success", was released in 2018. [7] Raval is reported to have donated all proceeds from the book to charity. [3]
Eldoret is a city in the Rift Valley region of Kenya. It serves as the capital of Uasin Gishu County. Located in western Kenya, and lying south of the Cherangani Hills, the local elevation varies from about 2,100 metres (6,900 ft) at the Eldoret International Airport to more than 2,700 metres (8,900 ft) in nearby areas.
Ruiru is a municipality and sub-county in Kiambu County, Kenya. It sits within the greater Nairobi Metropolitan region. According to the 2019 national population census, Ruiru was the 4th largest urban centre in Kenya by population. The name Ruiru is of the Kikuyu origin and possibly relates to the black cotton soil that is found in most parts of Ruiru.
Athi River is a town outside Nairobi, Kenya in Machakos County. The town is named after the Athi River, which passes through. It is also known as Mavoko.
Bamburi Cement Limited is an industrial company in Kenya specialising in cement and concrete. The company has operations in Bamburi suburb of Mombasa, it is headquartered in Nairobi and its stock is listed on the Nairobi Securities Exchange.
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 listed on the Nairobi Stock Exchange.
Gautam Shantilal Adani is an Indian billionaire businessman who is the founder and chairman of the Adani Group, a multinational conglomerate involved in port development and operations in India. As of 21 November 2024, Adani is ranked second richest person in Asia and 25th in the world, with a net worth of $60 billion. In 2022, Time magazine included him in the 100 most influential people in the world.
The Dangote Group is a Nigerian multinational industrial conglomerate, founded by Aliko Dangote. It is the largest conglomerate in West Africa and one of the largest on the African continent. The group employs more than 30,000 people, generating revenue in excess of US$4.1 billion in 2017.
Sudhir Ruparelia is a Ugandan business magnate and investor. He is the chairman and majority shareholder in the Ruparelia Group companies. His investments are mainly in the banking, insurance, education, broadcasting, real estate, floriculture and hotels and resorts sectors.
Hima Cement Limited (HCL) is a cement manufacturer in Uganda. It is a subsidiary of the Sarrai Group, a diversified manufacturing conglomerate headquartered in Uganda with subsidiaries in Uganda, Kenya and Malawi.
Naushad N. Merali, CBS was the founder of the Kenyan mobile service provider Kencell along with French media giant Vivendi. Merali became famous in an almost folk tale for a corporate boardroom manoeuvre that earned him a $20million dollar profit in one hour thanks to pre-emptive rights of his stake in private Telecom company Kencell Kenya in 2004. He attended Highway Secondary School in the suburbs of Nairobi, Kenya. As one of Kenya's leading industrialists, Merali brought commercial development in Kenya for more than 30 years and was constantly expanding his businesses throughout East Africa.
Christopher John Kirubi, born in Murang'a County, was a Kenyan businessman, entrepreneur, and industrialist. He was a director at Centum Investment Company, a business conglomerate, of which he was the largest individual shareholder.
Bidco Africa, previously Bidco Oil Refineries Limited (BORL), is a multinational consumer goods company headquartered in Thika, Kenya with subsidiaries and distributorships across 17 countries in East Africa, Central Africa, and Southern Africa. Its products include edible oils, fats, margarine, laundry bars and detergents, personal care products, animal feeds and most recently, Food and Beverages. Bidco Africa owns over 40 brands and is the largest producer and marketer of consumer goods in the region.
Brookside Dairy Limited, often referred to as Brookside Dairies, is a dairy processing company in Kenya, the largest economy in the East African Community. The company offers fresh pasteurized milk, cream, butter, yogurt, ghee, and long life milk products in Indian Ocean Islands, East Africa, Rwanda and Burundi. It provides products through distribution depots, agents, and sub agents to outlets in East Africa.
The Menengai III Geothermal Power Station is a 35 MW (47,000 hp) geothermal power plant in Kenya. The power station reached full commercial commissioning in August 2023.
Simba Cement Uganda Limited (SCUL), also National Cement Company Uganda, is a cement manufacturer in Uganda. It is a subsidiary of National Cement Company Limited, the construction materials manufacturer based in Kenya. National Cement is itself a subsidiary of the Devki Group of Companies.
Cimerwa Cement Limited (CCL) is a manufacturer of cement in Rwanda with capacity of approximately 600,000 tones per year.
National Cement Company Limited (NCCL), also National Cement Company Kenya Limited, is a cement manufacturer in Kenya. It is a subsidiary of the Devki Group of Companies, an industrial and manufacturing conglomerate, with headquarters in Kenya and operating subsidiaries in Kenya, Uganda and the Democratic Republic of the Congo.
The Devki Group of Companies, commonly referred to as the Devki Group, is a privately owned conglomerate in Kenya. Narendra Raval, a wealthy Kenyan industrialist and philanthropist, is a majority shareholder in each of the companies in the Group. The majority of the companies in the group focus on the manufacturing of building materials, including cement, aluminum and steel. The group has subsidiaries in Kenya, Uganda, Rwanda and the Democratic Republic of the Congo.
The Sarrai Group of Companies, commonly referred to as the Sarrai Group, is a privately owned conglomerate in East Africa and Southern Africa. The group maintains its headquarters in Kampala, Uganda, with subsidiaries in Kenya and Malawi. The group is headed by the executive group chairman, Sarbjit Singh Rai
Mary-Ann Wambui Kirubi Musangi, commonly referred to as Mary-Ann Musangi is a Kenyan businesswoman and entrepreneur who is the managing director of Haco Industries Kenya Limited, a Kenyan manufacturer and distributor of fast-moving consumer goods in the African Great Lakes Region.