He is admired and despised with equal measure. But he doesn’t seem to care as he builds his multi-billion empire.
To many, Vimal Shah is an admirable person, a good speaker and a dealmaker. These attributes are true. Because he has the attributes to maximise his potential and spread BIDCO’s tentacles far and wide.
Vimal is a director of Kenya Private Alliance and has previously been ranked among the richest men in East Africa with his family’s net worth standing at USD 1.6 billion.
But this amiable person is facing accusations of building the empire on tax evasion and exploitation of workers. He is accused of circumventing the laws of the land to suit his gains.
The company is now facing accusations of tax evasion and subjecting its workers to poor working conditions among other irregularities.
Vimal, the company’s chief executive is known as a good public speaker who has ostensibly campaigned for good governance in Africa, pointing to Bidco as an example.
But beneath this likeable smile is a man known to curry favour with organisations like the United Nations and foreign embassies in Kenya. He has been invited to a number of conferences and meeting, where he made speeches.
Vimal has pledged on several occasions, to grow Bidco’s revenues but a closer look shows a manipulative person, just like most Asian-owned firms in Kenya. The dominance in the manufacturing and retail sectors in the country, explains the kind of person Shah is.
Other than fighting the tax collector over alleged tax evasion, Vimal has been involved in a vicious battle with a New Zealander over the control of multi-billion Tatu City.
Kenya’s pioneer and perhaps the biggest real estate development has largely stalled because of the largely because of the lawsuits on the part of Stephen Jennings by Vimal and his business friend, Nahashon Nyagah, a former Central Bank Governor.