Rai Speaks on Shutting Down Business in Kenya

Monday, September 25, 2023 –Billionaire Jaswant Rai of Rai Group of Companies has reacted to reports of quitting the country for another option after his believed fallout with President William Ruto’s government.

Through an official statement released today Monday September 25 by the management, Rai explained that the rumour about his closing down all his enterprises in readiness to quit the Kenyan market was not true.

The Group, therefore, stated that all its clients, suppliers and shareholders should disregard such propaganda meant to spoil business for its Rai Group brand.

“The Rai Group is cognisant of its contribution to the economic growth of the Kenyan economy through job creation and, more importantly, through the production of high-quality goods and the provision of services that circulate and are consumed both locally and internationally,” read part of the statement.

Addressing other areas of conduct and operations with the State, the company noted that it was working all round the clock to make sure that it complies with all the Government’s requirements.

Further, the management shared that its core values remains delivering high standard products and services for Kenyan consumers.

Earlier reports had claimed that the businessman of Asian origin and who has been in Kenya for decades was planning to quit the Kenyan market for elsewhere.

These reports were widely shared on Twitter on Saturday with sections linking the decision to the recent controversial and direct warnings from President William Ruto.

Ruto recently, while touring Western Region, directed the billionaire to do as the government requires or be forced out of the country.

Ruto ended up giving the mogul only three difficult options among these being to leave the country, be ready to serve in jail or plan to meet his maker in the Heaven.

The threats saw Mr. Rai, who had days been abducted by unknown persons, show up to immediately announce the withdrawal of a case he had filed in court over Mumias Sugar Company.

The business magnet has a number of well-performing business enterprises dealing in both manufacturing and distribution.

Among his business entities operating in and outside the country include Menengai Oil Refineries, West Kenya Sugar, Rai Ply, Rai Papers among many others.

He is described as one of the wealthiest businessman in the country with a staggering net value that amounts into billions scattered across the continent.