Kenyan multimillionaire and industrialist Narendra Raval has launched a Ush2 trillion ($550 million) steel plant in Tororo, Uganda, marking Devki Group’s first major venture outside Kenya and reinforcing the company’s influence in East Africa’s manufacturing landscape.
The investment, one of the region’s largest private industrial undertakings in recent years, was unveiled at a high-profile ceremony attended by President Yoweri Museveni, President William Ruto, and President Paul Kagame, reported by Business Insider Africa.
Devki Group, which began in Nairobi in 1986 as a small steel shop founded by Raval, reflects a growth path similar to that of early Indian immigrants who established successful industrial and commercial enterprises across East Africa.
Today, the conglomerate spans multiple sectors with subsidiaries such as Devki Steel Mills, National Cement, Simba Cement, Maisha Mabati Mills, National Cement Uganda, Maisha Minerals and Fertilizers, Maisha Packaging, Northwood Aviation Agencies, and Cemtech.
With 19 factories across 9 industries and over 14,000 employees, Devki is now the largest private-sector employer in Kenya.
During the inauguration, Raval said the Tororo plant will have significant regional impact. “Beyond jobs, this factory will support the region’s push for stronger manufacturing and infrastructure,” he stated.
Positioned on more than 400 acres, the Tororo steel facility is expected to reduce Uganda’s reliance on imported steel and strengthen interconnected trade networks across the region.
The plant currently employs over 400 workers, a figure projected to grow to 20,000 by 2027 across Devki’s East African operations.
Alongside its target of generating 15,000 direct jobs, the project is also expected to create thousands more in transport, logistics, and mining, underscoring the wide employment ripple effects of major industrial ventures.
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Output from the Tororo plant is expected to exceed Uganda’s domestic needs, supplying markets in Kenya, Tanzania, Rwanda, South Sudan, and the Democratic Republic of Congo and reinforcing integrated industrial supply chains across East Africa.
Uganda’s abundant mineral reserves and supportive policy environment were key to Devki’s expansion decision.
The country holds an estimated 500 million tonnes of iron ore, and its ban on raw ore exports ensures that value addition happens locally. “These are the key reasons we committed to setting up this factory here,” Raval said.
Scheduled for completion in December 2027, the plant is expected to produce one million tonnes of steel annually, placing Uganda among the leading steel producers in Eastern and Central Africa.
Raval welcomed government plans to restrict steel imports once local output increases. “Uganda will be on the global map as a primary steel producer,” he said.
President Museveni positioned the project within a long historical and economic narrative. “For over 500 years, we have been losing value through slavery, colonialism, and the export of raw materials,” he said.
“With this integrated steel operation, we move closer to ending that haemorrhage of our minerals, our jobs, and our foreign exchange.” Raval also commended Kenyan President William Ruto’s economic leadership.
“Again, I will repeat, although the Constitution does not allow, I will say you should be there for 20 years,” he remarked. “A leader is not an expert in everything, but he hires the experts and takes the correct decisions at the correct time.”
Raval’s expansion into Uganda aligns with a broader trend across the continent, where prominent African industrialists are investing heavily in manufacturing, infrastructure, and large-scale production capabilities.
His latest venture strengthens this wave of regional industrialization and underscores the long-term potential of Africa’s manufacturing economy.
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Image Credit: Business Insider Africa
