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The Immortals: From timber, the Rai family became billionaires

Jaswant S. Rai (right) and Tejveer Rai during a press conference

The Rai family is in the limelight once again after buying troubled Pan Paper Mills in Webuye for Sh900 million. Pan Paper is worth Sh18 billion, but it was indebted to the tune of Sh10 billion by the time it was placed under receivership in 2009.

The Rai Group has RaiPly, makers of chip boards, ceilings, block boards, parquet and wooden tiles and polythene bags for sugar companies. The group is Kenya’s largest agro-forestry concern. It has spread its plywood wings to Uganda, Tanzania and Malawi - where it’s the biggest wood processor.

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