Do you want to learn more about Suleiman Shahbal, the tycoon from Mombasa? Below is a timeline of his life, beginning with Suleiman Shahbal net worth.
Suleiman Shahbal is a gallant tycoon and politician from Mombasa who has overcome numerous obstacles, including unemployment and being declared bankrupt, and then rebounding back to the top of the pyramid.
Shahbal is one of nine members elected to the 5th East African Legislative Assembly (EALA).
The former Mombasa gubernatorial candidate is one of Kenya’s wealthiest people, particularly in Mombasa.
Suleiman Shahbal net worth, among other things, is summarized below.
Suleiman Shahbal net worth
Suleiman has risen through the millionaire ranks, though he has not revealed his exact net worth to the public.
Even though Suleiman Shahbal net worth estimate is uknown at this time, he is extremely wealthy.
He has a substantial stake in Gulf Cap Group and Gulf Energy, which he owns entirely through Monte Carlo Investments Limited.
The businessman is known as Mombasa’s wealthiest politician, having spent more than Kshs. 200 million on campaigning during the 2013 elections.
Over the years, Shahbal has accumulated his wealth through investment banking, financial services, and energy.
Suleiman Shahbal biography
Suleiman Shahabal was born on September 6, 1960, in Majengo Chura, Mombasa.
Over the years, Shahbal has worked his way up through the ranks to become a millionaire and business tycoon. He is a businessman and politician from Mombasa.
Despite being a successful businessman, his rise has been fraught with difficulties, including being declared bankrupt twice.
As a businessman, he understands that failure is a necessary part of success, which is why, despite experiencing a financial crisis twice, he always recovers stronger.
Following his success in business, Suleiman decided to switch gears and enter politics in 2013, aiming to become the first Mombasa County governor. However, he was defeated by Ali Hassan Joho for the seat.
Education
Suleiman started his education at Kikowani Primary School, where he completed his primary education before being sponsored to Nairobi School.
He faced several challenges in school despite coming from a poor family and attending a group of schools.
One of his prefects, for example, embarrassed him by questioning why he, Shahbal, was wearing an old blazer despite being a form one student. This was a heartbreaking incident, but he managed to compose himself.
The irony is that several years later, the same prefect who mocked him went to his company and asked for a job, which he gave him.
After finishing high school, he was faced with a professional decision: study law at the University of Nairobi or pursue business in the United States. Finally, he decided to choose the latter and majored in finance.
Career
Business career
Shahbal returned to Kenya after finishing his studies in the United States in the hopes of finding work.
However, finding work in Kenya was not easy, and after a lengthy job search that yielded no results, he decided to try his luck in another country.
He left for Dubai this time in the hopes of landing a life-changing job. He was fortunate enough to land his first job at the prestigious City Bank in Dubai.
From then on, his life changed from Majengo Chura to experiencing everything he had ever desired. First-class air tickets became his only option whenever he travelled; he went to five-star hotels and even changed his house furniture every 3 years.
After saving a reasonable amount of money, Suleiman decided to resign from his job and try his luck in the business world.
Shahbal founded an oil company in the mid-1990s, which prospered for a time before collapsing four years later, leaving him bankrupt for the first time.
Now that everything was gone, he had no choice but to go back to working. This time, he landed a job as the Head of International Operations at a particular bank in Oman.
Despite his initial business failure, he never gave up. He founded an investment firm in Dubai after earning a large sum of money. The business was doing so well and was becoming so profitable that he had amassed a fortune estimated to be worth billions of shillings.
Unfortunately, the business failed once more, and Suleiman returned to Kenya for unknown reasons.
Instead of going back to work, he was able to re-enter the business world, establishing Gulf Energy, a successful company that he sold to Rubis in 2019.
He currently owns Gulf Power, a power plant in Athi River, as well as Gulf Africa Bank.
In addition, he is affiliated with the Kenya Trade Networks Agency (the agency helps clients with the process of importing and exporting goods).
Political career
Suleiman Shahbal was propelled into the political scene following the creation of the gubernatorial seat in 2010, when he ran for Mombasa County governor on a Wiper ticket in the 2013 elections. He was, however, defeated and lost the seat to Ali Hassan Joho.
Despite losing the seat in 2013, he made a much stronger comeback in 2017, aiming for the same seat—this time on a Jubilee Party ticket. Unfortunately, the same aspirant, Ali Hassan Joho, crushed him again.
Being a man who fights for his dreams, he wanted to run for the Mombasa County gubernatorial seat under the ODM party for the third time in the 2022 general elections. His plan was to rekindle the flames of Mombasa by establishing mini cities with administrative headquarters, a polytechnic, a fire station, and a hospital.
He did, however, resign in order to support Abdulswamad Nassir, who was also a member of the Orange Democratic Movement Party (ODM).
Suleiman Shahbal wife
Rahma Shahbal, the tycoon’s wife, is a woman of substance and a great pillar in his life, according to the tycoon.
Rahma previously worked in Dubai as a marketing manager.
The couple’s number of children is unknown, but he has a daughter, Samira, who was enrolled in a beekeeping course at a Nairobi-based institution last year.
Suleiman Shahbal age
Suleiman Shahbal was born on 6th September, 1990.
He celebrates his birth on September 6 every year.
Final Words on Suleiman Shahbal Net worth
Suleiman Shahbal net worth is not known to the public though he is estimated to be worth millions of money. Besides being a leading investor, he has over 25 years of experience in the banking sector
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