Newly appointed Egerton University Chancellor billionaire Narendra Raval has said he will offer his entire salary and allowances to supporting needy students at the institution.
Mr Raval is the founder of Devki Group of companies, a Kenyan conglomerate, and the largest manufacturer of steel products, roofing sheets and cement in East and Central Africa.
The tycoon made the announcement on Wednesday through his Facebook account saying he will be glad to work for free for the five years as Chancellor.
“As l begin my work, l would like to commit that l will not take any salary, allowances or financial benefits from the university. Instead this will go to the Chancellor’s donation account that will be utilised by the university to support needy students, “stated Mr Raval.
His companies will not get involved in business with the university during his tenure, he said.
President Uhuru Kenyatta appointed Mr Raval, 55, early last month.
He took over from Shem Oyoo Wandiga whose tenure ended in March this year.
Devki is made up of companies including Devki Steel Mills Limited, Maisha Mabati Mills Limited, National Cement Companies Limited and Northwood Agencies Limited.
Mr Raval also has interests in the aviation sector.
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