Steel billionaire to donate his salary to Egerton University students

On March 8, President Uhuru Kenyatta appointed steel billionaire Narendra Naval as Egerton University chancellor.

The billionaire has promised that as the chancellor, he will work at the campus for free.

Raval replaced Prof Shem Wandiga who was appointed by President Uhuru in 2013.

Through a social media post, Raval whose vast business empire spans five sectors, including aviation, will instead donate his entire salary, any allowance or financial benefit to supporting the needy students at the University.

The tycoon made it to the Forbes ranking of Africa’s richest people with a net-worth of Ksh. 41.2 billion in 2015

Raval also promised that none of his companies; Devki Steel Mills Limited, National Cement Company Limited ( Simba Cement) or Maisha Mabati Mills Ltd or any other company would enter into business or supply goods to the University unless for free.