Billionaire businessman Narendra ‘Guru’ Raval is among Kenyan tycoons and household names in the lucrative steel industry whose companies have been slapped with record Sh338.8 million fines by the competition watchdog for engaging in cartel-like behaviour.
This is the highest penalty the Competition Authority of Kenya (CAK) has ever imposed for anti-competitive behaviour, with the last being Sh66 million against four paint manufacturers two years ago.
