Devki Group Chairman, billionaire businessman Narendra Raval was a topic of discussion on the floor of the National Assembly on Wednesday, June 19, 2024, as members of parliament debated the contentious Finance Bill 2024.
While debating the report, Minority Leader Opiyo Wandayi called out the government for what he termed as state capture and the creation of monopoly.
He argued that the Finance Bill 2024 contained clauses and taxes that scared away investors in favour of a cabal close to the government.
Wandayi claimed that Raval is enjoying protection and favour from the government and is enjoying the lion’s share in the Kenya’s steel and cement manufacturing industry through his companies Devki Steel and Simba Cement.
“This particular businessman now controls clinker production in the country. For other businessmen to buy clinker or steel from him, he has set a bare minimum. You have to make a purchase of at least USD100,000 and must be paid in dollars,” Wandayi alleged.
In March 2024, Raval commissioned a Ksh45 billion clinker plant in West Pokot in an event attended by President William Ruto and a section of leaders from the region.
During the event, Raval praised Ruto’s leadership of the country, stating that Kenyans should have him as head of state for 25 years. This formed the basis for Wandayi’s argument on Raval receiving favour from the government.
