, One of the founding directors of Kenafric Industries has won the East African EY Entrepreneur of the Year award. Mayur Shah was named the winner in the Master Entrepreneur category and will join his counterparts from Southern and West Africa at the EY World Entrepreneur of The Year event in Monte Carlo, where they will compete with winners from over 60 countries for the global title.
As one of the founding directors, Kenafric has grown to be one of the largest manufacturers and leading exporters of diversified consumer products like confectionaries, food, footwear and stationery products in Kenya. Shah has been at the forefront of Kenafric’s expansion to 14 African countries with a vision to establish its presence in 30 countries by 2030.
Gaster Lule, the founder of Uganda’s Ntake Bakery and Company Limited won the Emerging entrepreneur category while Royal Media’s SK Macharia was honoured in the Lifetime Achievement Award.
Speaking at the award gala, EY’s Eastern Africa Regional Leader, Gitahi Gachahi said the entrepreneurs demonstrated a unique ability to identify and exploit opportunities.
“EY is fully committed to supporting entrepreneurship, which allows nations to harness their people’s creativity to achieve sustainable economic growth. We acknowledge the winners and all finalists for the leadership values they exemplify and for their inspiration,” said Gachahi.
“We are proud to recognise Mr Macharia, whose excellence is an inspiration to many other entrepreneurs,” added Gachahi.
The entrepreneurs were selected by an independent judging panel made up of previous winners of the award, leading CEOs and regional business leaders.
The EY Entrepreneur of the Year award celebrates individuals who have built great businesses and withheld the storms along their journey. Their determination and consistency has not only impacted hundreds of individuals through the creation of job opportunities but also the economy of the countries they operate in.
Lamin Manjang, CEO Kenya and East Africa, Standard Chartered Bank said the entrepreneurs are role models to start ups and the young generation of businessmen who have chosen the path of entrepreneurship.
“What started off as a small idea has grown and touched the lives of many, both locally and internationally. This indeed is a story of courage and meticulous calculation. Your spirit embodies our true desire – to go out and conquer the world. I am convinced that this is just but the beginning,’ said Manjang.