Narendra Raval: Humble Kenyan Billionaire Says He Uses Nduthis, Owns One Pair of Shoes
Kenyan billionaire Narendra Raval is ranked among Africa’s richest people, but he has remained meek at heart Even with an estimated wealth of over KSh 50 billion, the chairman of Devki Group of Companies reveals he has one pair of shoes and often uses bodaboda to move around Raval recently donated oxygen worth KSh 100 million to help public hospitals in the management of COVID-19.
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.
The 58-year-old has built his fortune from the business of steel, barbed wire, building bars, and cement.
At the height of the COVID-19 pandemic earlier this year, Raval became a darling of the people when he stopped steel production to produce oxygen that was given to public hospitals for free.
The donation valued at KSh 100 million was collected from Devki Steels Mills branches in Mombasa, Ruiru and Athi River.
Raval is the epitome of philanthropy, embodied in his relentless quest to help children’s homes, government schools, and children from backgrounds riddled in squalor. His autobiography christened ‘Guru; A Long Walk to Success’ raked in over KSh 100 million, proceeds that were all used on charity to the very last coin.
Modesty Despite having a bank account that can afford almost everything, Raval is not the man to live lavishly. Business Daily records that he has no wallet, no ATM card, and no credit card. “I always get on a bodaboda when traffic is a mess. I remove my tie, jump on one, and pay KSh 200,” the billionaire revealed.
He is comfortable with wearing one pair of shoes worthy KSh 6,000 and uses a simple mobile phone.
Even with business meetings being his order of the day, Raval makes do with four suits and six neckties.
According to the family man, marriage has played a big role in helping him ascend to the height he is at. “You become close friends the longer you stay together, raising children, and working towards something important for both of you,” he told Jackson Biko.
He added that his wife worked with him at their shop in Gikomba when he was just getting into
entrepreneurship and the business grew on them sharing ideas.
The couple is blessed with three children; two sons aged 30 and 15, as well as a daughter who is 22 years old. They also have two grandchildren. “The beauty of marriage for me is that whatever problems I have, I always know they will be shared and halved,” he said.
Raval has been working to ensure that he passes his admirable culture of humility to his children and grandchildren by teaching them the value of money.