Atul Shah
 | This article is actively undergoing a major edit for a little while. To help avoid edit conflicts, please do not edit this page while this message is displayed. This page was last edited at 00:06, 2 December 2014 (UTC) (10 years ago) – this estimate is cached, . Please remove this template if this page hasn't been edited for a significant time. If you are the editor who added this template, please be sure to remove it or replace it with {{Under construction}} between editing sessions. |
Atul Shah | |
|---|---|
| Born | 1961 (age 63–64) |
| Nationality | Kenyan |
| Occupation | Businessman & Entrepreneur |
| Years active | 1978 — present |
| Organization | Nakumatt Holdings Limited |
| Known for | Business Acumen & Net Worth |
| Title | Managing Director & CEO Nakumatt Holdings Limited |
Atul Shah is a businessman and entrepreneur in Kenya, the largest economy in East Africa. He is the Managing Director and Chief Executive Officer of the Nakumatt Holdings Limited, the parent company of Nakumatt Supermarkets, the largest, privately owned supermarket chain in the African Great Lakes area, with branches in Kenya, Uganda, Tanzania and Rwanda. As of September 2014[update], the retail chain maintained 50 stores in four countries, employed over 7,000 people and had annual sales in excess of US$650 million.[1]
Background and education
He was born in Nandi Hills, Kenya in 1961. In 1965, when Atul was four years old, the family relocated to Nakuru. Atul's father, Mangalal Shah, who had migrated to Kenya from India in 1947, opened a retail clothing store opposite the Nakuru open air market. Atul' s older brother, Vimal started working in the business in 1970. In 1975 Mangalal began exporting clothing to Uganda, often on credit. Towards the end of 1976, with debtors behind on their payments and creditors demanding for their money, Atul's father declared bankruptcy, with total debts of KSh1.2 million. The store was closed and Mangalal went to work for his brother Hasmukh Shah, who then owned a shop called Nakuru Mattresses.
Atul Shah and his brother, Vimal Shah opened up a clothing store that they called Furmatts, which among other things, sold bed sheets which the brothers stitched at home. In 1978, due to booming business, supported by the 1970's coffee boom in East Africa, the two sons and their father managed to pay off the KSh1.2 million debt. They bought Nakuru Mattress from their uncle, who relocated to the United Kingdom.
Work history
Wealth
Other responsibilities
See also
References
- ^ Mulupi, Dinfin (11 September 2014). "'No Secret To Doing Business In Africa,' Says Nakumatt Managing Director, Atul Shah". How We Made It In Africa. Retrieved 2 December 2014.