A visionary who built more than businesses

How blessed is a person whose passing is mourned not just by his family and close associates, but by an entire nation? Syed Manzur Elahi was one such person. He was a leader whose impact was so great that the whole country aches in his absence.  He has left behind far more than a business empire,  he has left a legacy of values, wisdom, and a guidepost for future generations. His life was not just about building industries, but about shaping ethics-driven leadership, pioneering enterprise, and inspiring countless individuals.

I had the privilege of speaking to him during the COVID-19 pandemic as part of an interview series for Preronar Kotha. What was meant to be a short conversation and interview stretched beyond an hour as he shared his remarkable journey: his successes, challenges, dreams, and lessons learned. Listening to him was like turning the pages of history, for his life was interwoven with the very fabric of modern Bangladesh. He spoke with clarity, humility, and wisdom, the hallmarks of a leader who had built not just companies, but an ethos that would outlive him.

Syed Manzur Elahi was more than an entrepreneur. He was a nation-builder in the truest sense. His contributions to Bangladesh’s leather and footwear industry helped shape a sector that now stands tall on the global stage. As the founder and chairman of Apex Group, he built an empire that spanned decades, creating not only businesses but livelihoods for thousands. His influence extended far beyond the corporate world, with leadership roles in Mutual Trust Bank, Pioneer Insurance, and educational institutions, all of which bear the mark of his integrity and vision.

His philosophy in life was simple yet profound: ‘Plain Living, High Thinking.’ He believed that wealth and success should be earned, but not at any cost. While he built a thriving business empire, his values strong, and his focus unwavering.

His journey began not in the world of business, but in the heart of a family of legal professionals. Born in Kolkata, his father was the Chief Justice of the Kolkata High Court, and his elder brothers followed the same path, becoming esteemed government officials and lawyers. Raised with values rooted in integrity, discipline and socialism as philosophy, young Syed Manzur Elahi was expected to follow in their footsteps. However, a fateful visit to Tatanagar in his teenage years changed everything. Seeing the self-sustaining industrial township, built and operated by Tata, he was mesmerised. It was a world where entrepreneurship was more than just business, it was a force that created jobs, innovation, and self-reliance. That experience planted the seed of his lifelong dream: to build a business that not only thrived but uplifted others. At the age of fifteen, he chose Jamsetji Tata as his role model, and with that, his journey began.

After completing his education from St. Xavier’s School and College in India, he returned to Dhaka and earned his Master’s in Economics from Dhaka University. He was part of an exceptionally bright cohort, many of whom went on to become diplomats, bureaucrats, and policymakers. Yet, he was drawn toward a different path. Instead of pursuing government service, he took a bold step into the corporate world, joining a multinational giant. It was a prestigious job, well-paid, and provided all the financial security one could ask for. But Syed Manzur Elahi wasn’t one to stay in his comfort zone. He once described corporate life as a “golden cage”, full of benefits, yet ultimately limiting one. His heart was in entrepreneurship, in building something of his own.

The turning point came in 1972, when he met Raymond Clark, a French businessman involved in import-export in a social gathering. Clark introduced him to the world of leather trading, offering him the chance to act as an agent in Bangladesh’s emerging leather industry. Seizing the opportunity, he left his corporate job on his 29th birthday, stepping into the unknown with nothing, but ambition and an unshakable belief in himself. He started by buying and exporting processed leather, gradually building relationships with international buyers. During our conversation, he recounted how, during those early days, he spent hours under the scorching sun and pouring rain, travelling across the country, working tirelessly to establish his business.

In 1976, when the government privatised Orient Tannery, he saw his chance. He purchased the struggling company and renamed it Apex Tannery, determined to turn it around and give the name a justification. The challenges were immense: machines were broken, workers lacked motivation, and financial constraints loomed large. But he persevered. His philosophy was simple: do business with integrity, fulfill commitments, and build trust. When faced with a choice between short-term profit and long-term reputation, he always chose the latter. He once said, “Business is important, but not at any cost.” Ethics mattered more to him than the bottom line, and this principle became the foundation upon which Apex was built.

From tanning leather to manufacturing footwear, Apex evolved under his leadership. He believed that Bangladesh could compete globally, not just as a supplier of raw materials, but as a producer of high-quality finished goods. In the 1990s, Apex began exporting shoes internationally, securing partnerships with major retailers like Deichmann, ABC Mart, and Macy’s. His keen foresight, strategic thinking, and relentless drive for quality made Apex a globally respected brand.

Beyond business, he was deeply invested in education and youth development, serving as the Chairman of East West University’s Board of Trustees, one of the pioneers in private education. He spoke about the gap between academia and industry, advocating for practical, skills-based learning. His belief in the power of entrepreneurship led him to mentor young business leaders, always emphasizing the importance of ethical business practices, financial discipline, and long-term vision.

During our conversation, he shared one of his core principles—something he believed every entrepreneur should live by: “Make the banker your best friend.” He understood that access to capital was crucial for business success, but creditworthiness and trust were even more important. He often recalled the time when he, as a young entrepreneur, approached State Bank of India (SBI) for a loan with no collateral. It was a leap of faith on both sides—the bank’s decision to lend and his commitment to honour that trust. Thus, he remained in the 001 account of State Bank of India in Bangladesh.

Beyond business, he was a man of deep values. He believed in fair wages, worker welfare, and social responsibility long before CSR became a corporate buzzword. As I reflect on my conversation with him, I realise how important it is to document the stories of our nation-builders. The younger generation needs real role models, not just those who built wealth, but those who built with purpose, ethics, and resilience. As an educator, I hope to teach my students the true sense of leadership, one that is driven by values, integrity, and a commitment to bettering society.

As Bangladesh continues to grow, it needs more leaders like him: leaders who dare to dream, who build with integrity, and who leave behind not just businesses, but legacies. His story deserves to be told, remembered, and learned from, not just as a tribute to his remarkable life, but as a torchbearer for those who aspire to follow in his footsteps.

Dr Melita Mehjabeen is a professor at IBA, University of Dhaka.

She can be reached at melitamehjabeen@gmail.com