This story appears in the October 2015 issue of Forbes Asia. As the Group Chairman of the Dubai-headquartered Stallion Group, Sunil Vaswani may be one of the most influential business leaders in the Middle East, Africa and … For over a decade, I have tracked India’s economic tumult, covering business for TIME and the New York Times. - Duration: 0:48. A clansman in Vaswani's own Emirates Hills is fellow FORBES listee (No. He was determined to make a comeback, and proved the allegations wrong to emerge stronger than ever in the agriculture and automobile sector.
0:48. At the swanky Porsche Center, a veritable starting line of speedsters sport price tags ranging from $100,000 to $400,000.More ambitious evidence of the group's automobile vision is a multiline assembly plant situated in a sprawling complex along the highway linking mainland Lagos with the port city of Badagry, near the border with the Republic of Benin. Jacky Impex's slowing operations did not inspire hope. Sunil Vaswani was born in Jaipur on 11 July 1963, grew up in Nigeria, and was educated in London. The stunning mansion in Dubai's Emirates Hills gated community is crammed with countless frills, some customary, some not.
“We are also As these things often seem when examining them in hindsight, Vaswani’s journey with the Stallion Group may sound like a breeze right now- but it was hardly, if ever, that. Besides importing fish and rice, Stallion last year supplied 120 million sackfuls of farm fertilizer from the Baltics.Nigeria's economy and its young population (a good third under age 15) is a long-term bet, but, according to the World Bank, half of its 170 million people still live on less than $1.25 a day. A graduate in Economics and Accounting from the United Kingdom. It was all rubbish, Vaswani says: "Certain rivals wanted me out of Nigeria so they could monopolize sectors. We are Of course, Stallion’s track record holds it in good stead for the future. It is the largest frozen-fish distributor and a rice market leader in Nigeria and its region, importing in bulk from Asia, bagging and branding for market. Last year Stallion imported a fifth of Nigeria's rice consumption. They engineered my family's exit through trumped-up allegations. From the profits Vaswani bought eight fishing trawlers to meet local demand and bring in shellfish for Europe.
Of Indian lineage (born in Jaipur), he grew up in Africa and holds Nigerian and British passports. The tables come alive when Sunil Vaswani, chairman of $3.72 billion (revenues) Stallion Group, headquartered nearby, hosts his famed soirees. Stallion Group. Forging the right supply/technology associations is another key factor for success, as well as With respect to his leadership style, Vaswani is someone who believes in walking the talk. Sunil Vaswani $ 999.00. The siblings returned to Nigeria in 2007, only to be banished again in 2009. Side by side on the northern end of Akin Adesola Street are four automobile showrooms--Porsche, Volkswagen & Skoda, Nissan and Audi--each a Stallion client. Despite the legal issues that have dogged the company (the latest of these was in August, when Nigeria’s House of Representatives ordered a probe into an alleged tax evasion by the company), Stallion has managed to get past such controversies, and instead maintain its focus on further growth and development. That he created the group in one of the world's most difficult business terrains--beset by brownouts, the Boko Haram insurgency in the north and a yo-yoing system of government, could hark to the risk-taking ancestry of the Sindhis, a hyper-successful ethnic group from modern-day Pakistan, now sprinkled around the world. In 2003, he was framed on grounds of allegedly evading tax on duty, and the family was forced to leave the country and reside in UAE. Image credit: Stallion Group. "Africa is a complex jigsaw puzzle whose pieces are just beginning to fall into place; we plan to invest a further $9 billion in the coming years to help Western Africa," Vaswani declares. was Vaswani's argument.By 2013's end the Jonathan government had announced a National Automotive Industry Development Plan with import duties of 20% to 70% on vehicles.
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