Billionaire industrialist Narendra Raval, popularly known as Guru, is the founder and chairman of the Devki Group of Companies, one of East and Central Africa’s largest manufacturers of steel, cement, and roofing products.
A Kenyan of Indian descent, Raval’s journey from humble beginnings to billionaire status is one of hard work, resilience, and vision.
Born in 1962 into a Brahmin family in Gujarat, India, Raval spent his early years serving as a temple assistant.
According to a 2015 Forbes ranking, Kenyan Narendra Raval has an estimated net worth of $500 million (KSh 54 billion) and is among Africa’s 50 richest people.
Additionally, Devki Group Raval revealed that Naval is ranked among Africa’s richest people, with an estimated wealth of over KSh 50 billion.
According to Forbes, Raval’s net worth was estimated at $400 million.
Raval donated oxygen worth Ksh100 million to help public hospitals in the management of COVID-19.
The Devki Founder has built his fortune from the business of steel, barbed wire, building bars, and cement. The Kenyan Multi-Millionaire Narendra pledged to give half his fortune to charity
The Rise of Devki Group Founder Narendra Raval
In 1978, he traveled to Kenya to work at a temple in Kisumu, where he earned a modest allowance that sustained him through his youth.
His turning point came in 1982, when he left temple service to join a Nairobi-based steel mill, where he learned the trade that would later define his career.
When the factory closed in 1990, Raval seized the opportunity to fill a market gap for affordable building materials.
Alongside his wife, he founded Steel Center, a small hardware shop in Gikomba Market, Nairobi, marking the start of his business journey.
Two years later, in 1992, he established a small rolling mill in Athi River, giving birth to what is now the Devki Group.
Companies Associated with Devki Founder
Devki Group
- Headquartered in Nairobi, Devki Group is a privately owned conglomerate with operations in Kenya, Uganda, and the Democratic Republic of Congo.
- It manufactures key construction materials, including steel, cement, and aluminum, making it a major player in East Africa’s industrial sector.
- The group is led by its founder and chairman, Narendra Raval, who holds a majority stake.
Devki Steel Mills Limited
- Began as a small tube mill in Athi River, Kenya.
- Has grown into the country’s largest steel manufacturer, commanding over 50% of the market share.
- Produces a wide range of steel products used across East Africa’s construction industry.
National Cement Company Limited (NCCL)
- Established in 2008, it has become Kenya’s largest indigenous cement manufacturer.
- Owns Simba Cement Uganda Limited, a major plant in Tororo, Uganda.
- Devki Group holds an 85% ownership stake in NCCL, highlighting its dominance in the cement market.
Simba Cement Uganda Limited (SCUL)
- Began production in 2018 with an annual capacity of about one million metric tonnes.
- Supplies cement to Uganda and neighboring countries, boosting regional construction.
- Operates as a subsidiary of National Cement Company Limited.
ARM Cement Limited
- Formerly known as Athi River Mining Limited, it was a leading producer of cement, lime, and fertilizers.
- Acquired by Narendra Raval in 2019 for $50 million, rescuing it from financial trouble.
- The acquisition strengthened Devki Group’s footprint in the cement and mining sectors.
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Honors and Achievements
In 2009, he was awarded the Elder of the Order of the Burning Spear (E.B.S) by the Government of Kenya for his contribution to the nation’s industrial growth.
Three years later, in 2012, he received both the British Government Recognition Award for his support to widows in Kenya and the Melvin Jones Fellowship Award from the Lions Club of Nakuru.
In 2015, Raval was named the Guru of Entrepreneurs by Lions Club International in Mumbai, and a year later, he received the Pride of India Award from Feelings Multimedia Ltd.
Earlier, in 2007, he had been honored with a Doctor of Divinity from the Champions Covenant Church in the USA, recognizing his commitment to philanthropy and community service.
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About Devki Group
Devki Group of Companies is a conglomerate that includes Devki Steel Mills Limited, Maisha Mabati Mills Limited, National Cement Uganda Limited, and National Cement Company Limited.
At the same time, Maisha Minerals and Fertilizers Limited, Northwood Aviation Agencies Limited, Cemtech Limited, and Maisha Packaging Company Limited.
Their major presence is in Kenya and Uganda.
The group employs more than 14,000 people across 19 factories and 9 industries, with more than 31 years of experience manufacturing high-quality products.
Devki Group is also the single largest employer in the Private Sector in Kenya.
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