Word: jayant
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Phones & Ashes. Though the four brothers regularly rotate responsibilities, Jayant is the most equal among the equals. "We know how a family business can be run," he says. "We never have disagreements...
...turn of the century and stayed to do well in commerce. Unlike most of the clan, now fearful of the future under independent African rule and sending their savings abroad, the young Madhvanis are determined to remain and are vigorously expanding to prove it. Says the senior brother, Jayant Madhvani, 41: "We don't want history to say that we lagged behind when the need for economic development is so great...
...rolling mill and are building a brewery and candy factory. In Uganda, judiciously allied with the government's development corporation, they will also build a bag factory and eventually pulp and paper mills, and they have longer-range plans for distilling alcohol and manufacturing drugs. "We are," boasts Jayant, "the only people in East Africa who are going full speed ahead...
...higher sugar tax largely aimed at the Madhvanis. But they have hedged against too much discrimination by heavily supporting charities and political parties in the three nations, and by presenting the government of Uganda with a $500,000 office building in Kampala. They have hired some black African executives. Jayant, a citizen of Uganda and a former member of its colonial legislature, continues to cultivate his old political friendships...
Educated at the University of Bombay, suave Jayant is a Hindu and strict vegetarian who also fasts one day a week and once each year for a fortnight eats only yoghurt. But he does business from an air-conditioned, four-telephone office on the shores of Lake Victoria and tools around in a blue Mercedes to visit the 12,000 workers for whom the Madhvanis provide free housing, schools and medical care. The brothers are frequent business visitors to Europe...