In Africa’s entrepreneurial landscape, few names resonate as strongly as Ashish J. Thakkar. A self-made businessman who began with just $5,000 and a bold vision, Thakkar has built a pan-African empire that straddles technology, finance, real estate, and social impact. Today, as the founder of Mara Group and co-founder of Atlas Mara, he is widely recognized as one of Africa’s most dynamic voices in global business.
From Refugee Roots to Boardroom Power
Born in 1981 in Leicester, United Kingdom, to a family of Indian origin, Thakkar’s early life was marked by turbulence. His family fled Uganda during Idi Amin’s expulsion of Asians, moved to the UK, then relocated to Rwanda, only to escape once again during the 1994 Rwandan genocide, as cited by Wikipedia.
At 15 years old, Thakkar dropped out of school to pursue entrepreneurship. Armed with a $5,000 loan, he launched Mara Group in 1996 as a small IT trading business in Uganda, importing computers and hardware from Dubai according to Economic Times.
Building the Mara Empire
What began as a modest business grew into Mara Group, a conglomerate with interests in technology, financial services, real estate, renewable energy, and infrastructure, operating across more than 20 African countries. By 2014, Mara employed over 11,000 people, recorded by Addis Fortune.
Thakkar’s vision was to create “Made-in-Africa” multinationals. In 2019, Mara launched the Mara Phone project, Africa’s first smartphone manufacturing plant, based in Rwanda and South Africa, symbolizing his commitment to industrial innovation on the continent.
Atlas Mara and Banking Ambitions
In 2013, Thakkar teamed up with Bob Diamond, former CEO of Barclays, to co-found Atlas Mara, a financial services company aimed at transforming African banking. They raised $325 million through an IPO on the London Stock Exchange and went on to acquire stakes in several banks across seven sub-Saharan African countries, as documented by African Leadership Magazine.
The move was a bold attempt to scale up Africa’s financial infrastructure, and although Atlas Mara faced operational hurdles, the venture cemented Thakkar’s reputation as a visionary unafraid of risk.
Philanthropy and Mentorship
Beyond business, Thakkar has been a strong advocate for youth empowerment. In 2009, he founded the Mara Foundation, which provides mentorship, venture funding, and incubation platforms for young African entrepreneurs, Forbes reported. His focus on nurturing talent reflects his belief that Africa’s growth story depends on investing in its youth.
He has also served on global platforms, including as Chair of the UN Foundation’s Global Entrepreneurs Council and as a member of the African Development Bank’s Presidential Youth Advisory Group according to Wikipedia.
Global Recognition
Thakkar’s achievements have brought him global acclaim. He was named to Fortune’s 40 Under 40 in 2013, recognized as a World Economic Forum Young Global Leader, awarded the MTV Africa Music Awards Leadership Award in 2014, and crowned Esquire Middle East’s Man of the Year in 2016, all cited by Wikipedia.
A Legacy in Motion
Ashish Thakkar embodies the spirit of modern African entrepreneurship: ambitious, resilient, and global in outlook. His story, from refugee beginnings to continental leadership, illustrates both the challenges and possibilities of doing business in Africa.
For Thakkar, the mission is clear: to prove that Africa is not only open for business but is also capable of creating global businesses with African DNA. As he continues to expand Mara’s influence across industries, he remains a symbol of what it means to dream big and build even bigger on African soil.
