The Rai Group of Companies has denied recent reports claiming that they are leaving the Kenyan market.
On Monday, a statement issued by the company owned by billionaire Jaswant Rai labelled the reports as “unhelpful propaganda” in the midst of an economic crisis. The Rai Group reasserted its promise to stay in the country and bolster its financial progress through job creation and providing superior products and services. This pledge applies to their clients, workers, and stakeholders, who have been urged to expect consistent support from the company.
The company affirmed its collaboration with the Government in abiding by regulatory guidelines. Earlier reports had suggested that Rai was terminating operations in Kenya and seeking investments elsewhere, but these reports have been dismissed as inaccurate. The news about numerous layoffs and the potential closure of the sugarcane industry has created concern among many Kenyans.
“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.
The billionaire possesses a majority share of over 40% in the milling industry, while also maintaining investments in the timber and cooking oil sectors. His stranglehold over the sugar industry has been a subject of contention lately, as President William Ruto has implied that his various corporations are impeding the progress of public mills.
They need to go back to…
They need to go back to India let Kenyans struggle and figure it out for themselves.History has shown no outsider especially these heathen offers help without any strings attached and there are many capable locals who can do what this billionaire has been doing assuming he has been paying taxes we all know how Indians treat Africans low pay spiced with all sorts of verbal abuse
Unintelligent ape what…
Unintelligent ape what happened to Uganda about 50 years ago and Zimbabwe in the early 2000s.The chimps know nothing about business.
They can’t go back to India…
They can’t go back to India because they are Kenyans though of Indian origins, just as Kikuyu are Kenyans, though of Cameroonian origins, and no one tells them to go back to Cameroon. Government should not be engaging in business, it should stick to regulation.
True on the Govt should not…
True on the Govt should not be in business though on policies which has so far failed the Sugar farmers from that part of Kenya. While its a phenomenal on how Indian are superior in business and well coordinated worldwide for racketeering scheme to make Billions. They often are on a hunt to take advantages by our leaders are in their pockets in return of monopoly market which varies as after every elections is over. So time will tell on this new promises as the govt is broke as usual