The co-founder of the Sarit Group of companies S.V Shah known to many as Bachubhai has died.
In a statement, Sarit Centre announced the news of his passing which occurred on April 6, 2021, in Nairobi Kenya.
"It is with deep sorrow that we inform you of the demise of our beloved chairman and co-founder Bachubhai Shah this morning. Your prayers for the departed soul and the family are very much appreciated," the mall stated.
Another of his companies, Text Book Centre also shared the news describing him as a visionary leader.
"Through his drive and desire to lead change in the education sector, Bachubhai shaped TBC into the company it is to today. He will be remembered for his love and dedication to TBC as a company, brand and family and will be greatly missed," the popular bookseller stated.
Shah, who was also the chairman of the board, co-founded the Sarit Group of companies (which owns Text Book Centre (TBC), Sarit Your City, Kartasi Industries, and others) alongside Maneklal J Rughani.
The two businessmen founded TBC in 1964 as a partnership that went on to grow to become the leading bookstore chain in Kenya.
Shah's entrepreneurial spirit saw him establish Sarit Centre which is Kenya's first shopping mall in the 1980s.
With the slogan, “City within a City”, the mall was geared to encompass the one-stop shopping experience that changed retail forever in Eastern Africa.
The two businessmen however faced challenges when the attempted coup of 1982 nearly trampled their plans to open the business hub
They went on to open the mall after meeting their consultants and deciding to do away with some of the proposals.
The mall opened with only 20% of what was originally conceived and it went on to overcome more economic turbulence to become the most sustainable shopping mall development in Kenya.
"Beyond his successful business ventures, Bachubhai made an indelible mark in the community through his stewardship, personal relationships and championing causes to bring the community closer," TBC added about the tycoon.