Mombasa business community honours Shahbal with an award

The Mombasa business community came together to celebrate and honor the exemplary contributions of Suleiman Shahbal, a distinguished and respected businessman.

Shahbal, the Chairman of GulfCap Real Estate, one of Africa's largest real estate developers, was bestowed with the prestigious award in recognition of his outstanding years of service, unwavering devotion, and steadfast support to the local business community.

He was awarded during the Mombasa Business Awards Gala Dinner hosted by the Kenya National Chambers of Commerce and Industry on Friday at Sarova Whitesands Hotel.

The recognition comes at a time when his company, GulfCap Real Estate was awarded as the best real estate developer in Africa in Namibia by the African Union for Housing Finance (AUFC) last month.

In the same month of November, President William Ruto launched Phase 2 of the Buxton Point project in Mombasa.

The company has taken on monumental projects that have not only transformed skylines but have also addressed the critical need for affordable housing.

Notable among these initiatives are the Starehe Point project in Nairobi, valued at Sh20 billion, and the Buxton Point project in Mombasa, with an investment of Sh6 billion. The projects focus on providing a lifestyle.

KNCCI Deputy President Mustafa Ramadhan said the accolade stands as a testament to his significant impact and leadership within the industry.

“Shahbal has always been our advisor on matters of trade and investment. He has been there for us whenever we want him,” he said.

The chamber’s Mombasa chapter chairman Abud Jamal said “His leadership and story have impacted many in the business community.

On his Facebook account, Shahbal said:

“The chamber mentioned that the award is in appreciation of my service, devotion, and support to the business community, but it is my honor to appreciate them for having confidence in our leadership. I am humbled!”

Shahbal's success as a visionary businessman is further underscored by the pivotal role he plays in shaping the business landscape of the country.

His acumen and leadership have positioned him as the go-to person on matters of business and trade in Mombasa, earning him the respect and admiration of his peers.

According to his life story, he has gone bankrupt twice but bounced back to become a successful businessperson in the country.

He is only in the oil business, power, real estate, hospitality, and the banking sector where he started the first Sharia-compliant bank- Gulf African Bank.

Shahbal is currently a member of parliament at the East African Legislative Assembly.