Narendra Raval inked a deal with Ugandan president Yoweri Museveni to export iron ore worth KSh 15 billion annually....CONTINUE READING
The deal will see the industrialist tighten his grip on the steel and cement sectors in the East African region. Uganda gave Raval the green light after amending the law that froze exports of raw and semi-processed iron ore.
Kenyan billionaire businessman Narendra Raval’s political involvement could be paying off if his recent deals are anything to go by.
The executive chairman of the Devki Group of Companies, who said President William Ruto should rule for 25 years, has landed a multi-billion deal to export iron ore to Uganda.
According to NTV Kenya, Raval inked a deal with Ugandan president Yoweri Museveni to export iron ore worth KSh 15 billion annually.
The deal will see the industrialist tighten his grip on the steel and cement sectors in the East African region.
Business Daily reported that Uganda gave Raval the green light after amending the law that froze raw and semi-processed iron ore exports.
Raval’s Ugandan unit of Devki Steel Mills will pay a 5% royalty. Raval opened up about how the cost of living had impacted his companies.
He disclosed that he pays Kenya Power KSh 900 million monthly, and his monthly bill amounts to KSh 2 billion.
The billionaire added that the amount includes paying salaries for about 11,000 employees and utility bills.
Raval proved he is a humble rich man after he shared that despite having a bank account that can buy him anything, he doesn’t live a lavish lifestyle.
Raval said President William Ruto was a good man who loves Kenya and Kenyans at large. He lauded Ruto as a visionary leader with good plans for Kenya and argued that he should be allowed to rule for 25 years.
Narendra’s remarks were supported by Pokot South David Pkosing, who vowed to push for a constitutional amendment to remove term limit..<<CONTINUE READING>>
