Ruto reappoints billionaire Narendra Raval as Egerton University Chancellor

President William Ruto has reappointed billionaire Narendra Raval as Egerton University's Chancellor.

A gazette notice published on Friday stated that Raval will continue to be at the helm of the university for another five years.

This is in line with the Universities Act 2012, which grants the President powers to appoint a Chancellor of a university. 

"In exercise of the powers conferred by section 38 (1) (a) of the Universities Act, 2012, I, William Samoei Ruto, President of the Republic of Kenya and Commander-in-Chief of the Defence Forces, re-appoints Narendra Raval (Dr) as Chancellor of the Egerton University, for a period of five (5) years, with effect from September 16, 2024," the notice read in part. 

In 2019, former President Uhuru Kenyatta appointed Raval as the university's Chancellor, replacing Prof. Shem Oyoo Wandiga. 

Known as a philanthropist, Raval is the founder of the Devki Group of Companies which deals with manufacturing steel products, roofing sheets and cement. 

Born in 1962 in a small town in India, Raval embarked on ministry as an assistant priest at a Swaminarayan temple before relocating to Kenya to continue serving as a temple teacher. 

He then took up a job in a small steel factory where he honed his skills of steelmaking. At a young age, Raval managed to set aside some savings to start a small steel processing and trading enterprise with his wife in Nairobi. 

What was once a small business, Devki has now grown into the largest manufacturer of steel products in East and Central Africa. 

According to Forbes, his company generates revenue worth Ksh.64.3 billion while his net worth is estimated at an average of Ksh.51 billion.