City billionaire Narendra Raval, who was recently appointed by President Uhuru Kenyatta as the Egerton University Chancellor, has announced that he will not take home any salary. This Kenyan billionaire vows no salary, choosing to forgo personal financial gain for a noble cause.
Through a post on his Facebook page, Raval noted that he will donate all the financial benefits he is set to get. These will go to the Chancellor’s Donation account to support needy students.
“As I begin my work, I would like to commit that I will not take any salary, allowance or financial benefit from the university. Instead, this will go to Chancellor’s Donation account. It will be utilized by the University to support the needy students for their fees.
“Moreover, none of my Companies, Devki Steel Mills Limited, National Cement Company Limited (Simba Cement) or Maisha Mabati Mills Ltd, or any other company that I own will enter into any business transaction or supply goods to the University. This applies unless it is a free-of-charge supply.
“This is among many things is part of my promise to make the University a better place. I aim to transform lives through quality education,” he wrote. The Kenyan billionaire’s vow to forgo salary underscores his commitment to educational advancement.
Furthermore, Guru, as he is popularly referred to, is considered one of Kenya’s most successful entrepreneurs. He will serve as Egerton University’s chancellor for the next five years. His promise not to accept a salary aligns with his philanthropic goals of making a real difference. It demonstrates the commitment a Kenyan billionaire vows to uphold.
In 2015, he was featured in Forbes’ ranking of Africa’s richest people. He had a fortune of more than $400 million.
According to his autobiography, Guru: A Long Walk to Success, the astute businessman began his work life as a young, teenage priest in Nairobi, Kenya, further emphasizing his longstanding commitment even as a Kenyan billionaire who vows to continue giving back.
Today, Guru Bhai runs his business empire. It has more than 4,500 employees spread across East Africa.
Also, he regularly gives scholarships to hundreds of destitute Kenyan children every year and funds the rehabilitation of schools and other educational centres in low-income areas in Kenya.
