Who is billionaire businessman Jaswant Singh Rai?

Who is billionaire businessman Jaswant Singh Rai?

Businessman Jaswant Singh Rai. Photo I File

Last week, prominent businessman Jaswant Singh Rai made headlines after he was apprehended by gun-toting men in Nairobi, forced out of his car in traffic, and bundled into a pick-up that had blocked him.

Although details about his kidnapping and subsequent release on Sunday are scarce, President William Ruto waded into the mystery on Sunday, linking the businessman to a group of cartels he accused of thwarting the government's plans to reform the sugar industry and vowed to confront them head-on.

So who exactly is Jaswant Singh Rai?

Rai was born in India and emigrated to Kenya in the 1970s where he began his career as a businessman by getting into the fruits and vegetable industries.

He later entered the sugar sector, founding the West Kenya Sugar Company in 1989, now among Kenya's biggest sugar producers.

A reclusive Kenyan billionaire businessman and chairman of the Rai Group- a conglomerate with interests in the sugar, real estate, and hospitality industries- he is thought to control at least 43 per cent of Kenya's sugar business.

Rai is also the chairman of Kabras Sugar Company, Sukari Industries, and Olepito.

He is also the founder of the Raiplywood Group, Kenya's leading producer of plywood and other wood products.

According to Business Daily, the company produces roughly half of Kenya's sugar consumption. In 2022, they opened Naitiri Sugar Company, their fourth sugar mill, in Bungoma.

The Ksh.6.3 billion ($44 million) facility, which has a daily production capacity of 6,000 tonnes of sugar, began operations in May.

According to Sugar Directorate Data from 2020, Rai Group held 45% of the nation's total sugar sales. Sukari Industries came in at 11%, West Kenya at 29%, and Olepito at 2%.

The billionaire is renowned for his stylish suits, which are made by renowned British stylist and designer Ozwald Boateng, who is also the first and youngest black tailor to have a shop on London's prestigious Savile Row, where the world's royalty go for their clothing.

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