When you look at the skylines of Nairobi or Mombasa, you aren’t just looking at glass and concrete; you are looking at the legacy of a handful of families who turned scrap metal into billions of shillings.
In Kenya, the steel industry is a silent titan, contributing nearly 13% of the manufacturing GDP. But behind the heavy machinery and the heat of the furnaces are “The Steel Billionaires”—men who started in open-air markets like Gikomba and ended up shaping the East African economy.
Here is an inside look at the tycoons who own the “steel” of Kenya.
Narendra Raval: The “Guru” Who Doesn’t Use a Wallet
If there is a king of Kenyan steel, it is Narendra Raval. The founder of the Devki Group, Raval’s story is the ultimate “rags-to-riches” narrative.
The Origin: Born in India, Raval came to Kenya as a teenage assistant priest. After leaving the priesthood to marry, he found himself jobless and eventually started a small hardware store in Gikomba in 1986.
Today, Devki Steel Mills is the largest steel manufacturer in East Africa. Raval didn’t just stop at steel; he vertically integrated his business into cement (Simba Cement) and aviation.
Despite a net worth estimated at over $500 million (KSh 65 billion), Raval is famous for his ascetic lifestyle. He reportedly owns only one pair of shoes, doesn’t carry an ATM card, and has pledged to donate 50% of his wealth to charity.
The Bhagani Family: The Force Behind Apex Steel
While Raval is the most visible, the Bhagani family—specifically through Apex Steel—commands a massive share of the high-end construction market.
Established in 1970, Apex Steel has positioned itself as the “quality” leader. If you see a major infrastructural project—like the Standard Gauge Railway (SGR) or the Nairobi Expressway—there is a high probability the steel came from Apex.
They were the first Kenyan company to receive a green certification for rebar production. In an industry often criticized for its carbon footprint, the Bhaganis have invested heavily in sustainable European technology to maintain their edge.
The Patel Family: The Abyssinia Group
The Abyssinia Group, led by Jitesh Patel and his family, is one of the oldest integrated steel producers in the region.
Unlike some competitors who focus solely on Kenya, the Patels have built a massive footprint in Ethiopia and Uganda.
They are unique because they control their supply chain. They aren’t just “rolling” imported steel; they have their own mining operations in Uganda to source raw materials, making them less vulnerable to the fluctuating prices of the global market.
The Patel Family (Mukesh Patel): The Tuffsteel Supply Chain
While others specialize in the furnace, Mukesh Patel’s Tuffsteel Limited has mastered the high-speed distribution and manufacturing of structural steel essential for Kenya’s vertical growth.
Tuffsteel is the vital link between the factory floor and the construction site. They specialize in high-strength Nyumba® TMT bars, beams, and hollow sections.
Recognizing that steel manufacturing is only as good as its delivery, Mukesh Patel invested in a massive specialized fleet to ensure their steel reaches Kenya’s mega-projects—from the UN Headquarters to Two Rivers Mall—just in time.
The Chandaria Family: The Safal Group Legacy
While Dr. Manu Chandaria is often associated with aluminum and philanthropic work, the Safal Group (which includes Mabati Rolling Mills – MRM) is a cornerstone of the steel roofing sector.
The Niche: They dominate the “mabati” market. While others focus on the rebar (bars) inside the walls, the Safal Group focuses on what goes on top.
Having started in Mombasa in 1962, they have expanded into 11 African countries. They remain the gold standard for roofing solutions, proving that the steel business is just as much about the roof over a Kenyan’s head as it is about the skyscrapers in Upper Hill.
The Doshi Group (Doshi Family)
The Doshi Group is one of Kenya’s oldest and most diversified industrial conglomerates. While they are famously private, their footprint in steel, hardware, and electrical components is massive.
Ashok Doshi is the chairman of Doshin Group.
Their manufacturing arm, Doshi Steel, has been a market leader since the 1970s. Unlike others who focus purely on raw steel, Doshi dominates the supply chain for high-end construction materials, water piping systems, and electrical infrastructure.
Beyond steel, the family holds one of the most valuable private real estate portfolios in Kenya (including significant holdings in Mombasa and Nairobi) and has a major presence in the Indian renewable energy sector (Waaree Energies).
Tononoka Group (The Savla Family)
Tononoka is often the “quiet giant” of the industry. They started as a small hardware shop in the 1980s and evolved into one of the largest steel producers in the region.
Dharmesh Savla is the Group CEO of Tononoka Group.
They operate two massive divisions: Tononoka Steels Limited (specializing in pipes and sections) and Tononoka Rolling Mills (which processes scrap metal into reinforcement bars).
They were among the first in the region to pivot heavily toward the “circular economy,” recycling hundreds of thousands of tons of metal scrap annually, which drastically lowered their production costs and boosted their valuation.
Why the Steel Industry is “Billionaire Territory“
Building a steel mill isn’t like opening a supermarket. It requires “Patient Capital.”
A single modern rolling mill can cost upwards of $50 million to set up.
Steel manufacturing is power-intensive. Billionaires in this space must navigate Kenya’s high electricity costs, often investing in their own power sub-stations to stay profitable.