Rai Group strongly denies rumors of shutting down its operations

Rai Group, one of Kenya’s leading conglomerates, has strongly denied the rumors that it is shutting down its operations. The company’s management has come forward to clarify that the news circulating on social media platforms is completely false and misleading.

In a statement released by the group, they expressed their disappointment at the spread of such inaccurate information. They stressed that these rumors are nothing more than unhelpful propaganda, especially during these times of economic uncertainty and challenges.

The Rai Group of Companies is a major player in various industries, including oil refineries, cement production, and timber manufacturing. With a strong presence across the country, the group plays a crucial role in Kenya’s economy. Therefore, any speculation about its closure could have significant repercussions.

The false claims originated from Edgar Wabwire, who alleged that the company’s billionaire owner, Jaswant Singh Rai, had summoned all the managers to discuss the closure of multiple businesses. He further alleged that the company was planning to relocate to another country.

However, the Rai Group’s management has categorically denied these allegations. They assert that no such meeting was held, and there are no plans to shut down any of their operations. The group remains committed to its workforce, business partners, stakeholders, and the overall development of Kenya.

The Rai Group’s diverse portfolio includes Menengai Oil Refineries Ltd in Nakuru, Rai cement in Muhoroni, Raiply in Elburgon, and Complyn in Nakuru. These companies are essential to the local economy, providing employment opportunities and contributing to the nation’s growth. The false rumors about their closure have caused unnecessary panic and uncertainty.

The group’s statement also emphasised the importance of verifying information before sharing it on social media platforms. It is essential to rely on credible sources and refrain from spreading baseless rumors that could harm the reputation and stability of businesses.

Rai has stated their dedication to playing a role in the advancement of Kenya’s economy.

According to their statement, “The Rai Group recognizes the importance of contributing to Kenya’s economic growth by creating employment opportunities and, more significantly, by producing top-notch products and delivering services that are utilised both domestically and internationally.”

The Rai Group of Companies has always been a responsible corporate entity, contributing significantly to Kenya’s economic development.