Many Manchester residents may not know that Iqbal Ahmed, a Bangladeshi-born entrepreneur, is one of the wealthiest individuals in the UK. Ahmed’s journey to becoming a multimillionaire and a prominent figure in the UK’s seafood industry is one of determination and innovation. He is the owner of two companies, Seamark and Ibco, which have diversified interests in shipping, hospitality, construction, and food industries. Learn more about his inspiring story on manchester1.one.
Iqbal Ahmed’s Early Life
Ahmed was born in 1956 in Balaganj Thana, Sylhet District, East Pakistan—now modern-day Bangladesh. He spent his early years there before moving to the UK at the age of 15, where he attended City College in Westminster.
After completing his education, Ahmed relocated to Oldham, near Manchester, to establish his business. Later, his brothers Kamal and Bilal joined the venture, transforming it into a family-run enterprise. What started as a modest seafood business eventually became a flourishing family operation.
The move to Manchester was both a challenge and an opportunity for Ahmed. Immersed in a new culture, language, and way of life, Ahmed recognized Manchester as a city of possibilities despite the difficulties.
The Growth of Iqbal Ahmed’s Business
Ahmed began his career in his family’s business, which primarily imported ethnic food products catering to the growing South Asian community in the UK. This experience provided invaluable insights into the food trade industry. However, Ahmed aspired to establish his niche.
The turning point in Ahmed’s career came in the 1980s when he identified a significant gap in the market. The UK’s seafood market was expanding, yet there was a lack of high-quality prawns and other seafood that met the preferences of the South Asian diaspora. Seeing this opportunity, Ahmed began importing prawns from Bangladesh, his homeland renowned for its premium seafood. What began as a small venture quickly grew into a thriving business due to the high demand for his products.
In 1992, Ahmed became the CEO of Seamark Group, a company he founded alongside his brothers. The company specialized in frozen seafood products. Meanwhile, Ahmed’s other venture, Ibco, focused on supplying these products to the catering industry.
Ahmed understood that building a successful business required strong relationships with suppliers and a commitment to maintaining the highest quality standards for imported seafood. This dedication to excellence distinguished his business from competitors, earning customer loyalty not just in Manchester but throughout the UK.
Under his leadership, Seamark expanded rapidly, evolving into a vertically integrated company that managed every aspect of the supply chain—from sourcing seafood at farms to delivering it to customers’ plates. This comprehensive approach allowed Seamark to maintain strict quality control and offer competitive prices, solidifying its market position in the UK.
Ahmed’s Profits and Other Ventures
By 2006, Ahmed’s business success had earned him a spot on the Sunday Times Rich List, where he ranked 511th with a net worth of £110 million. Additionally, Ahmed twice appeared among the top twenty wealthiest Asians in the UK, with a net worth of £90 million.
Ahmed’s businesses in Manchester generate approximately £200 million annually, while his operations in Bangladesh employ around 2,000 people.
Seamark’s products are not limited to Manchester or the UK—they are exported across Europe and even to the United States. These products are sold under well-known brand names such as Mr Prawn, Lily, Classic, and Tiger.
In the UK, Ahmed’s thriving seafood empire has earned him nicknames like “Mr. Prawn” and “The King of Prawns.” Beyond his seafood ventures, he also owns a hotel complex, a Thai restaurant, and a bar called Vermilion and Cinnabar.
In addition to his business ventures, Ahmed is deeply involved in charitable and educational activities. He runs a foundation dedicated to improving the lives of impoverished people in his native Bangladesh. He also founded the NRB Bank project, which supports Bangladeshi expatriates in contributing to the country’s economic development. In 2014, Ahmed established a secondary school and college in Sylhet.
Ahmed’s journey from a teenager in Bangladesh to one of the UK’s wealthiest individuals is a testament to the power of perseverance, innovation, and a keen eye for market opportunities.