The Rai Group of Companies' management has flagged news circulating on Social Media indicating its shutdown as fake.
In a statement, the group said the claims making it rounds on social media are misleading.
"The management at Rai Group of Companies wishes to inform all its business partners, stakeholders, including farmers, employees, the media, and indeed the general public that the information circulating on social media platforms, to the effect that Rai Group is closing down all its operations and is relocating to another country, is, to say the least, regrettable misinformation bordering on unhelpful propaganda coming at this time of severe economic challenges," the statement reads.
Social media reports claimed that the company's managers had been summoned to discuss the closure of several businesses across the country.
The claim was made by an X user by the name Edgar Wabwire who claimed that the Rai Group Billionaire and Businessman Jaswant Singh Rai summoned all managers of the company on Saturday.
Edgar further claimed that the managers agreed to close the companies soon and move elsewhere outside Kenya.
"The companies are Menengai Oil Refineries Ltd - Nakuru, Rai cement in Muhoroni, Raiply in Elburgon, and Complyn Nakuru," he said in an X post.
Rai has, however, expressed commitment to contributing to Kenya's economic growth.
"The Rai Group is cognisant of its contribution to the economic growth of Kenyan economy through job creation, and more importantly, through the production of high-quality goods and provision of services that circulate and its consumed both locally and internationally," the statement read.
