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Devki Steel Mills, the flagship steel unit of Kenyan industrialist Narendra Raval’s Devki Group, has been fined Ksh287.9 million ($2.23 million) along with six other steel producers by Kenya’s Competition Authority for allegedly fixing prices and restricting imports.
The Competition Tribunal upheld the penalty in Oct. 2025. It is one of the largest ever given in Kenya's manufacturing sector. The ruling sends a message to an industry long seen as central to the country’s infrastructure growth but increasingly under scrutiny for anti-competitive practices.
Tribunal upholds cartel ruling
The Tribunal’s decision followed a two-year investigation by the Competition Authority of Kenya (CAK), which found that leading steelmakers had coordinated pricing for key construction materials. The firms named in the probe include Corrugated Sheets Ltd., Tononoka Rolling Mills, Jumbo Steel, Accurate Steel Mills, Nail and Steel Products, and Blue Nile Wire Products.
Investigators said the companies’ informal price agreements inflated construction costs, affecting housing and public works. Devki Steel was fined Ksh46.29 million ($358,330), the third-highest amount after Corrugated Sheets at Ksh86.97 million ($673,232) and Tononoka Rolling Mills at Ksh62.71 million ($485,353). The seven companies together face a total penalty of Ksh287.9 million ($2.23 million).
The Tribunal dismissed appeals from the firms, ruling that the CAK had followed due process and presented credible evidence of collusion. In a statement, CAK Director-General David Kemei said the ruling was “a win for fair competition and for ordinary Kenyans.” He added, “Price-fixing and import restrictions harm consumers and limit innovation. We will continue to enforce the law without fear or favor.”
Raval’s Devki Group faces rare regulatory setback
The decision marks a rare challenge for Narendra Raval, popularly known as “Guru”, whose Devki Group dominates Kenya’s construction market. The conglomerate, which includes National Cement and Maisha Mabati, has grown into one of East Africa’s largest producers of steel, cement, and aluminum.
Raval and his wife started Devki in 1986 as a small trading company in Nairobi. It later grew into a full-fledged manufacturing company. In 2022, it opened East Africa's first raw steel plant in Kwale County, using iron ore that was mined in the area.
The fine probably won't hurt Devki's bottom line, but it does mean that Kenya's big companies will be watched more closely. The case shows that the government is becoming more determined to hold powerful manufacturers accountable and make the market fairer for builders, suppliers, and consumers.
