Took over the responsibility of his fathers business
Sunil Vaswani’s father, Sunderdas Vaswani, arrived in Africa in 1954 and started working as a shop assistant. After leaving this job, he decided to launch Jacky Impex stores for importing sundry items. Sunil went to London to pursue his education and returned to Lagos, Africa only to realise that Jacky Impex had not been experiencing substantial growth. He exchanged ideas with his father and suggested shifting their company’s mission to meet the daily needs of the masses. It was decided to enter the food sector and target items such as wheat, rice and sugar. The name of the company was changed to Stallion Industries and it took on the task of facing the dearth of food segments and volume based commodities in the country. Success was hard to come by and required overcoming the challenges posed by Nigeria’s economy and regulatory environment, and after an initial drought it eventually experienced growth in this field. Vaswani entered the automobile segment in 1989, and experienced long periods of rejection in attempts of getting a franchise to Africa. It took him four years to enter the car distribution business and gradually built his fortune thereon. In 2003, he was framed on grounds of allegedly evading tax on duty, and the family was forced to leave the country and reside in UAE. He was determined to make a comeback, and proved the allegations wrong to emerge stronger than ever in the agriculture and automobile sector. Today, he leads the frozen fish and rice market in terms of distribution and enjoys a monopoly for distributing automobile brands such as Nissan. Not only has the Stallion Group established itself as a major conglomerate in Nigeria, but also contributes significantly to the economic development of Western Africa.
At the age of 21
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Took over the responsibility of his fathers business
1983
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Renamed Jacky Impex to Stallion Industries
1989
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Diversified into the automobile distribution market
1990-2000
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Consolidated growth in business activities
2003
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Deported to UAE
2010
Later became a Nigerian citizen
2013
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Was responsible for upliftment of import duties on vehicles (20% to 70%) in Nigeria; National Automotive Industry Development Plan was announced
2014
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Manufactured the first ever Nissan automobile in Nigeria
Stallion Group has become a diversified conglomerate with presence in 18 countries. It plays a significant role in the Industrialisation and Green Revolution activities with a prime focus on building large scale local industries in Africa.