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Marcopolis presents the Tanzania Report focused on topics such as economy, investments and doing business, featuring interviews with Tanzania's leaders. The sectors under review in this issue are agriculture, banking, construction and real estate, energy, financial services, exports, industry, tourism, logistics and many more. 

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VideosJanuary 15, 2024

Strategic Resilience: Group Managing Director Jayesh Shah Discusses Sumaria’s Future

Written by Sandra Francisco
Published: January 15, 2024

Jayesh Shah, Group Managing Director at Sumaria Group, provides insights into the group’s trajectory, elaborating on the process of consolidation and articulating his forward-looking vision for the future of Sumaria.

"Compared to 2008, our turnover has probably shrunk by half. We sold businesses, such as the pharmaceutical, detergent, and FMCG business in Mozambique. We also started some business in Dubai, in the UAE, and all of these have been exited. Today, it is basically packaging company Silafrica, where we still have a majority shareholding, the Coca Cola business Nyanza Bottling, where we own 50% of the business, and the ginning company, where we also own 50% of the business. We also have some real estate, like property and land, but we are slowly divesting from it. We had some in Uganda, which we sold, and some in Tanzania and Kenya, where we are gradually exiting. So, essentially, we are consolidating down to Silafrica, Nyanza Bottling, and the ginning company as the three core businesses left for Sumaria Group. One of the core reasons for this consolidation is that some of the original members, the first generation that started the business, my uncles, have passed on. Their sons and families have also moved, mainly to the UK and other places, pursuing their own interests. Instead of being passive shareholders, many were interested in doing their own things. So, we decided to sell and provide them with the opportunity to explore their own ventures. These three businesses – Silafrica, Nyanza Bottling, and the ginning company – remain our core focus", says Jayesh Shah.

"Currently, as a family, we find ourselves at a crossroads. We are uncertain because it is crucial for everyone to be on the same page. We are actively discussing whether our aspirations and visions align. These discussions take place during our AGM and when meeting other family members. At this stage, a decision is pending on whether to expand the business, continue investing in new ventures, or explore individual entrepreneurial paths", he adds.

ABOUT SUMARIA GROUP: Sumaria Group is a family-owned business group that has been investing and operating in East Africa since the 1940s. Starting as a trading house, Sumaria expanded into manufacturing including industries in the plastics, food, FMCG, and pharmaceutical sectors as well as real estate. The group currently operate in 5 countries across East and Southern Africa, with a strong focus on serving the local consumers in the region.

 

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