The Managing Director of Kenya’s leading supermarket cha in, Nakumatt Holdings, Artul Shah, has been named one of the top 50 emerging mar k et business leaders by the Financial Times of London, PANA reported from here We d nesday.
Shah was named alongside other business leaders from the BRIC countries â” Braz il, Russia, India and China â” and other emerging market economies.
In a survey titled: 50 emerging market business leaders, the Financial Times nam ed Shah alongside Equity Bank CEO James Mwangi as some of the top 50 emerging ma r ket business leaders.
Shah and Mwangi were the only Kenyan business leaders who hit the FTâ?s survey top ranks in the analysis that featured the worldâ?s business big hitters.
From across Africa, Shah made it to the FTâ?s selection alongside Nigeriaâ?s l eading industrialist, Aliko Dangote, South Africaâ?s business magnate, Cyrille R amaphosa, among others.
While welcoming the survey results, Shah described the recognition by the Financ ial Times as a vote of confidence for the East African economies and pledged to f urther play a key role in deepening the regional retail market scene.
â?I am extremely honoured and feel privileged to feature in the Financial Times ‘ Top 50 list, which in a big way, encourages me to step up Nakumattâ?s market p resence in East Africa,â? Shah said.
â?Besides my personal pride and that of the entire Nakumatt customers and staff fraternity, such a recognition is a clear vote of confidence on the potential o f East Africans.â?
The Financial Times, in its selection of 50 emerging market business leaders who have shaped the economic performance of their respective regions, noted that BR I C countries and other emerging market economies had powered ahead economically o v er the past decade, marking a distinct shift in global power.
On its Nakumatt Holdings note, FT noted: â?Atul Shah has built Nakumatt into th e biggest supermarket chain in East Africa and made it the region’s most promine n t connection to the world of globalised consumerism.â?
FT expressed optimism that BRICS could together outstrip the worldâ?s existing six biggest economies by 2039 and China might overtake the US by 2041.