Ashish Thakkar Explained

Ashish J Thakkar
Birth Date:5 August 1981
Birth Place:Leicester, United Kingdom
Spouse:Krishna A. Thakkar
Children:Yagna A. Thakkar, Avadhi A. Thakkar
Nationality:British
Occupation:Founder, Mara Group & Mara Foundation
Years Active:1996 - present
Organization:Mara Corporation

Ashish J. Thakkar is an East African entrepreneur.[1] [2] He is the founder of Mara Group and Mara Foundation and also a co-founder of Atlas Mara Limited. Thakkar was born in the United Kingdom, but he moved to East Africa as a teenager before founding Mara Group, a Pan-African conglomerate, at the age of 15.[3] Mara Group's operations and investments span 22 African countries.[4] He is the author of The Lion Awakes: Adventures in Africa's Economic Miracle.

Thakkar is a member of the World Economic Forum's Young Global Leaders,[1] [5] and was included in Fortune magazine's list of the top "40 Under 40" in 2013.[6] He was awarded the Base Leadership Award at the 2014 MTV Africa Music Awards event.[7] Esquire named him Middle East Man of the Year in 2016.[8]

In 2015, Thakkar was appointed Chair of the United Nations Foundation's Global Entrepreneurs Council and in 2017, he was appointed Chair of the Presidential Youth Advisory Group at the African Development Bank

Early life and education

Thakkar's family emigrated from the Indian state of Gujarat to Africa in the 1890s.[9] [10] Thakkar was born in Leicester in 1981.[11] He spent his childhood at Rushey Mead School as part of Belvoir S form group. His parents had moved to the United Kingdom in 1972 when Idi Amin enforced the expulsion of Asians from Uganda.[12] Thakkar and his family returned to Africa to live in Rwanda before they were again forced to leave due to the Rwandan genocide in 1994. The Thakkar family then fled to Burundi before settling in Uganda as refugees.[6] [12] At 15 years old, Thakkar dropped out of school to start his own business with a $5,000 loan.[6]

Career

Thakkar founded his own company, Mara Group, in 1996 at the age of 15.[11] He began by importing computer parts including keyboards, mouses, and desktops from weekly trips to Dubai.[13] After Thakkar had received a $5,000 loan to start his company,[14] he opened the small IT business in a shopping mall across the street from his father's shop in Kampala.[15]

Over the next ten years, Thakkar expanded Mara Group into manufacturing, real estate, agriculture, and IT services.[1] [6] Thakkar later relocated the company headquarters to Dubai, but kept business in Africa.[12] [16]

In 2013, Thakkar announced a partnership with Bob Diamond to launch Atlas Mara,[17] a company that invests in commercial banking institutions across Africa.[18] Diamond, the former chief executive of Barclays, and Thakkar met at a conference through their foundations, Mara Foundation and the Diamond Family Foundation.[14] Thakkar and Diamond raised $325 million in funding in December 2013, before listing the company on London Stock Exchange.[19] [20] The stock price has continued steadily declining and has lost 95% of its IPO price.[21] The ticker symbol in London is ATMA.LN, while in the United States, the ticker is AAMAF.

Other activities

Thakkar founded Mara Foundation, a non-profit company that mentors and supports young African entrepreneurs,[22] in 2009.[12] Mara Mentor, a mobile application that connects young entrepreneurs with business professionals, was launched through Mara Foundation.[2]

In June 2014, Thakkar participated in the "Global Accelerator" event hosted by the United Nations Foundation and the United Nations Office for Partnerships to discuss entrepreneurship in UN objectives. Thakkar presented and worked at the event of over 100 entrepreneurs and UN officials including Michael Dell, Barbara Bush, and Arianna Huffington.[23] In August 2014, Thakkar participated in the US-Africa summit, hosted by the White House, alongside former U.S. President Bill Clinton.[24] He has also participated in the UN Women Initiative,[25] and was a guest speaker at the Emirates Foundation Youth Philanthropy Summit in November 2014.[16]

See also

External links

Notes and References

  1. Young, Successful And African: Ashish J.Thakkar, CEO of Mara Group. Forbes. 24 April 2013.
  2. Young African Millionaire Launches Mara.com, Africa's First Online Mentorship Network. 1 August 2014. 7 August 2012. Mfonobong. Nsehe. Forbes Magazine.
  3. Web site: Ashish J. Thakkar: Shaking Africa's business universe. African Business Magazine. 4 April 2013. 10 February 2014.
  4. Web site: Why Ashish Thakkar's Mara Group has its head office in Dubai . How We Made It in Africa . 5 October 2014 . 27 November 2014 . Jaco . Maritz .
  5. Web site: Ashish Thakkar. World Economic Forum. 24 April 2013.
  6. 40 Under 40 2013: 19. Ashish Thakkar . . 2013 . 27 November 2014 .
  7. Web site: 2014 MTV Africa Music Awards winners . Bizcommunity.com . 9 June 2014 . 11 June 2014.
  8. News: Lessons from an entrepreneur: Ashish J. Thakkar Esquire Middle East – The Region’s Best Men’s Magazine . 12 June 2024 . Esquire Middle East – The Region’s Best Men’s Magazine . 26 January 2017.
  9. News: Mara group's Ashish Thakkar: How he established a multi-million dollar, pan-African group . . 26 January 2014 . 27 November 2014 . G. Seetharaman .
  10. Web site: G Seetharaman. Mara group's Ashish Thakkar: How he established a multi-million dollar, pan-African group. The economic times. 24 October 2015. Thakkar's paternal great grandfather moved from Gujarat to Uganda in 1890 to trade in maize, cotton and other commodities. But his family had to leave Uganda in 1972 when the country's dictatorial leader Idi Amin ordered the expulsion of Asians. His parents moved to the UK, where they set up a business trading women's fashion goods and where Thakkar was born..
  11. News: Ashish Thakkar: Bob Diamond's African partner . . 22 June 2014 . 27 November 2014 . Blas, Javier .
  12. News: Ashish Thakkar: Child refugee who built business empire . . 9 March 2014 . 27 November 2014 . Matt Symonds .
  13. Web site: Genocide refugee, CEO, and astronaut-to-be gives back to Africa with accelerator . . 7 August 2012 . 27 November 2014 . Christina Farr .
  14. News: Mara Group's Ashish Thakkar on What Investors Get Wrong About Africa . . 4 March 2014 . 27 November 2014 . Kathleen Caulderwood .
  15. Web site: Tycoon to fly African flags in space . . 24 April 2013 . 27 November 2014 . Ayesha Durgahee . Jessica Ellis .
  16. News: Businessman hopes to inspire youth . . 4 November 2014 . 27 November 2014 . Roberta Pennington .
  17. Web site: Robert Diamond Aims to Make Banking Comeback – in Africa . The New York Times Dealbook . 9 December 2013 . 27 November 2014 . Chad Bray .
  18. Young African Millionaire Ashish J. Thakkar Launches Mara Mentor in Ghana . . 5 September 2014 . 27 November 2014 . Mfonobong Nsehe .
  19. Bob Diamond And Ashish J. Thakkar To Raise $400 Million to Fund Deals . . 14 May 2014 . 27 November 2014 . Mfonobong Nsehe .
  20. News: Bob Diamond-backed Atlas Mara to expand in Africa via acquisitions . . 31 March 2014 . 27 November 2014 .
  21. Web site: ATMA.LN - Atlas Mara Limited Stock Technical Chart.
  22. Web site: Ashish Thakkar and the Mara Group Take A Flying Leap at Becoming The Skype Facebook, Google Talk of Africa . . 16 May 2013 . 27 November 2014 . Mike Cassidy . 5 December 2014 . https://web.archive.org/web/20141205071318/http://www.siliconbeat.com/2013/05/16/ashish-thakkar-and-the-mara-group-take-a-flying-leap-at-becoming-the-skype-facebook-google-talk-of-africa/ . dead .
  23. Web site: Welcome to the United Nations Office for Partnerships . United Nations Office of Partnerships . 27 November 2014.
  24. Web site: Ashish J. Thakkar, US-Africa Leader's Summit . . 8 August 2014 . 27 November 2014 .
  25. How Ashish Thakkar Built an African Business Empire . . 11 March 2014 . 27 November 2014 . Donna Fenn .