Narendra Raval, also known as Guru Dev, is a Kenyan industrialist, philanthropist, and founder of the Devki Group of Companies.
He has built the Devki Group of Companies into one of the largest conglomerates in East Africa, with interests in the manufacturing of steel, cement, and other construction materials.
His business acumen has propelled him to share boardrooms with some of the most successful and influential leaders in Kenya and Africa at large.
During an interview on Citizen TV’s JKLive Show, Narendra Raval disclosed that he pays an astonishing Sh. 900 million to Kenya Power for electricity every month. The least that he pays to Kenya Power is Sh. 700 million monthly.
He disclosed that Devki Company’s overhead expenses include payment of salaries and utility bills, which are some of the major cost drivers impacting his business.
“When it is low season we pay Sh. 700 million to Kenya Power, otherwise we pay Sh. 800 million to Sh. 900 million every month,” Raval noted.
The billionaire businessman revealed that the skyrocketed cost of living in the country has greatly impacted his business.
He used to pay Sh. 400 million to Kenya Power a year ago. This was despite Devki having alternative sources of power.
“I must be the largest. They should give me the award but I never got it,” Narendra chucklingly remarked.
Narendra Raval disclosed that he has employed more than 11,000 people directly. All expenses cumulatively total around Sh. 2 billion monthly.
“Our overheads, salaries and power only come to Sh. 2 billion every month. So we have to look for Sh. 200 million every day apart from Sunday,” he stated.
READ: Billionaire Narendra Raval: Why I own only one pair of shoes
As per company policy, Raval revealed that he strictly prohibits himself from engaging in business whatsoever with the government of Kenya.
“I have never done work with the government. I don’t supply to the government, not today but it is part of our policy.”
“I have never dealt with the government since I was born. I’m very honest with you. Mimi ni pastor, my name is Guru,” he commented.
Narendra Raval also mentioned that 50 per cent of his company’s income goes towards charitable giving as a way to support Kenyans during tough financial times.
