Shahin Bharwani, founder of The Mocktail Company, has sold more than 30,000 units of the mojito-inspired Nojito across the UK since last year. Courtesy Alicia Buller
Shahin Bharwani, founder of The Mocktail Company, has sold more than 30,000 units of the mojito-inspired Nojito across the UK since last year. Courtesy Alicia Buller
Shahin Bharwani, founder of The Mocktail Company, has sold more than 30,000 units of the mojito-inspired Nojito across the UK since last year. Courtesy Alicia Buller
Shahin Bharwani, founder of The Mocktail Company, has sold more than 30,000 units of the mojito-inspired Nojito across the UK since last year. Courtesy Alicia Buller

Britain’s Muslim entrepreneurs cash in on the power of the pound


  • English
  • Arabic

LONDON // Young mum Shahin Bharwani beamed with delight as she watched the young crowds queue up to sample her “Nojitos” at London’s first Halal Food Festival held in the summer.

She selected the event as the launchpad for her non-alcohol halal-friendly drinks because it was located in her core market, East London, and allowed potential customers to physically taste and touch the product. “Nothing makes me happier than watching someone drink the Nojito and tell me how good it tastes,” she says.

By all estimates, the British Muslim and former deputy head teacher, Ms Bharwani, 37, is not your typical entrepreneur. She says she only came up with the idea six months ago when sitting in a restaurant and realising, once again, that there was nothing “nice or special” for Muslims to drink apart from a sugary soft drink or just plain fruit juice. This sparked the launch of The Mocktail Company in June last year, which has since sold more than 30,000 units of the mojito-inspired Nojito across the UK.

In April, Ms Bharwani will take part in the Muslim Lifestyle Show, which will showcase businesses aimed at this burgeoning consumer market. Worldwide, the halal food and beverage sector is forecast to be worth more than £2 trillion (Dh9.21tn) by the end of this decade, according to Reuters’ latest State of the Global Islamic Economy report, and is growing at nearly double the rate of the global economy generally.

More than 100 businesses from 14 countries will set up their stalls at London’s Olympia hall for the lifestyle show on April 15 and 16. Exhibitors will include producers and suppliers of halal food brands, toiletries and cosmetics; modest fashion; travel; Islamic finance; entertainment; and greeting cards and toys. Twenty thousand visitors are expected to pay the £10 entrance fee.

“The tide is definitely turning for the capital’s Islamic economy,” says Abdulhamid Evans, the founder of the London-based halal research firm Imarat Consultants. “In 2017 we will see more home-grown Muslim brands and many of them will also appeal to non-Muslims because of their ethical and providence values.”

Mr Evans also predicts that the UK government is likely to turn its attention to the Islamic economy and launch more initiatives to support Muslim entrepreneurship and foreign inward investment.

In 2010, the global Muslim population was 1.6 billion people. By 2050 it is expected to reach 2.8 billion, a quarter of the world’s population. One-third of Muslims are under 15; two-thirds are under 30. The size of the Muslim middle class is forecast to triple by 2030. The economies and populations of countries with Muslim majorities are growing fast and Muslim minorities in Britain, Europe and North America are young, affluent and thriving.

In the past few years there has been an explosion in small businesses set up to cater for the growing demands of the Muslim consumer market. Many of these entrepreneurs are young, smart, Muslim and hungry. Each passing month involves the launch of new and ingenious businesses, each seeking to serve the increasingly sophisticated needs of a growing international class of Muslim – those who are born in the United Kingdom and are balancing their fast-paced western lifestyles with a desire to respect their religious values.

Last June, three young Muslim professionals packed in their day jobs to launch Halalnivore, London’s first gourmet halal meat home delivery service. The company has since signed up more than 200 monthly customers. “Good quality halal me

at can be hard to find in London,” says Walli Datoo, 35, the co-founder and chief executive of Halalnivore.

The entrepreneur says he hopes to tap into the capital’s growing demand for premium halal food. The overall value of the UK’s halal food market is £700 million, according to the Muslim Council of Britain. However, it is not just Muslims who are demanding high-quality meat.

“Our typical customer is anyone who likes top-notch food, not just Muslims,” says Mr Datoo. “We view ourselves as a lifestyle brand. We’re providing a premium service that didn’t exist before … mainly for 25 to 40-year-olds who are working all day and don’t have time to go out and source good meat.”

Halalnivore delivers internationally sourced meat cuts – from lamb cutlets to fillet steaks – in refrigerated boxes door-to door across the UK. The concept is simple: any order placed before 12pm on a Tuesday will be delivered on Thursday the same week. “This is the best quality halal meat on the market,” says Mr Datoo. “We use the same suppliers as London’s five-star restaurants.”

Also cashing in on the UK’s growing premium halal food market is Haloodies, the country’s first provider of upmarket value-added meat products supplied into Britain’s mainstream supermarkets. Imran Kauser, the co-founder of Haloodies and a doctor by training, says a confluence of Muslim trends including growing affluence, aspirational outlooks and a general interest in provenance, inspired him to launch food products aimed at millennial Muslims. “We are not about minarets and crescents,” he says. “We provide high-quality meat and universal branding.”

According to experts, premium food is set to be one of the fastest growing Islamic economy sectors in the UK. “Halal food is set to take off in a big way,” says Mr Evans. “Fresh accessible food brands, such as Haloodies, are examples of how modern branding can give the products broad appeal to Muslims and non-Muslims alike.”

Another growing Islamic economy sector is the modest fashion industry. London is a teeming hotbed for young designers who are creating demure designs for an increasingly fashion-savvy and well-off generation of millennial Muslims. Romanna Bint-Abubaker, the chief executive of the Chelsea-based modest fashion marketplace Haute Elan, recently founded the city’s first London Modest Fashion Week, which is set to take place on February 18 and 19.

“London Modest Fashion Week aims to be an annual fixture and comes at an opportune time. It is a new and exciting addition to London’s fashion calendar,” says Ms Bint-Abubaker. “It will act as an industry catalyst for UK’s fledgling modest fashion industry, bringing into the mainstream highlights of modest fashion – culture and elegance. London has increasingly been seen as the modest fashion capital of the world and so it’s no surprise that we chose to host this event on our home ground.”

As Britain’s young Muslim population grows and becomes increasingly affluent, all the signs point to the unassailable power of the Islamic pound.

“Just because we’re Muslim, it doesn’t mean we’re boring,” says Ms Bharwani. “It doesn’t mean we don’t like nice things.”

business@thenational.ae

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Company%20Profile
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
ESSENTIALS

The flights

Emirates flies direct from Dubai to Rio de Janeiro from Dh7,000 return including taxes. Avianca fliles from Rio to Cusco via Lima from $399 (Dhxx) return including taxes. 

The trip

From US$1,830 per deluxe cabin, twin share, for the one-night Spirit of the Water itinerary and US$4,630 per deluxe cabin for the Peruvian Highlands itinerary, inclusive of meals, and beverages. Surcharges apply for some excursions.

The%20specs
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Spare

Profile

Company name: Spare

Started: March 2018

Co-founders: Dalal Alrayes and Saurabh Shah

Based: UAE

Sector: FinTech

Investment: Own savings. Going for first round of fund-raising in March 2019

Visit Abu Dhabi culinary team's top Emirati restaurants in Abu Dhabi

Yadoo’s House Restaurant & Cafe

For the karak and Yoodo's house platter with includes eggs, balaleet, khamir and chebab bread.

Golden Dallah

For the cappuccino, luqaimat and aseeda.

Al Mrzab Restaurant

For the shrimp murabian and Kuwaiti options including Kuwaiti machboos with kebab and spicy sauce.

Al Derwaza

For the fish hubul, regag bread, biryani and special seafood soup. 

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BORDERLANDS

Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis

Director: Eli Roth

Rating: 0/5

UAE rugby in numbers

5 - Year sponsorship deal between Hesco and Jebel Ali Dragons

700 - Dubai Hurricanes had more than 700 playing members last season between their mini and youth, men's and women's teams

Dh600,000 - Dubai Exiles' budget for pitch and court hire next season, for their rugby, netball and cricket teams

Dh1.8m - Dubai Hurricanes' overall budget for next season

Dh2.8m - Dubai Exiles’ overall budget for next season

Heavily-sugared soft drinks slip through the tax net

Some popular drinks with high levels of sugar and caffeine have slipped through the fizz drink tax loophole, as they are not carbonated or classed as an energy drink.

Arizona Iced Tea with lemon is one of those beverages, with one 240 millilitre serving offering up 23 grams of sugar - about six teaspoons.

A 680ml can of Arizona Iced Tea costs just Dh6.

Most sports drinks sold in supermarkets were found to contain, on average, five teaspoons of sugar in a 500ml bottle.

Green ambitions
  • Trees: 1,500 to be planted, replacing 300 felled ones, with veteran oaks protected
  • Lake: Brown's centrepiece to be cleaned of silt that makes it as shallow as 2.5cm
  • Biodiversity: Bat cave to be added and habitats designed for kingfishers and little grebes
  • Flood risk: Longer grass, deeper lake, restored ponds and absorbent paths all meant to siphon off water 

Arctic Monkeys

Tranquillity Base Hotel Casino (Domino) 

 

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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MATCH INFO

Uefa Champions League semi-final:

First leg: Liverpool 5 Roma 2

Second leg: Wednesday, May 2, Stadio Olimpico, Rome

TV: BeIN Sports, 10.45pm (UAE)

How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

Business Insights
  • As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses. 
  • SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income. 
  • Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
Strait of Hormuz

Fujairah is a crucial hub for fuel storage and is just outside the Strait of Hormuz, a vital shipping route linking Middle East oil producers to markets in Asia, Europe, North America and beyond.

The strait is 33 km wide at its narrowest point, but the shipping lane is just three km wide in either direction. Almost a fifth of oil consumed across the world passes through the strait.

Iran has repeatedly threatened to close the strait, a move that would risk inviting geopolitical and economic turmoil.

Last month, Iran issued a new warning that it would block the strait, if it was prevented from using the waterway following a US decision to end exemptions from sanctions for major Iranian oil importers.

UAE cricketers abroad

Sid Jhurani is not the first cricketer from the UAE to go to the UK to try his luck.

Rameez Shahzad Played alongside Ben Stokes and Liam Plunkett in Durham while he was studying there. He also played club cricket as an overseas professional, but his time in the UK stunted his UAE career. The batsman went a decade without playing for the national team.

Yodhin Punja The seam bowler was named in the UAE’s extended World Cup squad in 2015 despite being just 15 at the time. He made his senior UAE debut aged 16, and subsequently took up a scholarship at Claremont High School in the south of England.

THE LIGHT

Director: Tom Tykwer

Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger

Rating: 3/5