Ashok Sewnarain

Ashok Sewnarain serves as the chairman of IBV International Vaults Group, a global leader in exclusive vault services. Born in Mayville and educated at Burnwood High School in Sydenham, Ashok’s journey to entrepreneurship began early. His first job was working alongside his father in the family’s real estate business. While doing this, Ashok attended university at night to pursue a bachelor of accounting degree. However, after six months, balancing work, studies, and his relationship with his girlfriend proved too challenging, and he made the difficult decision to leave university.

“I had to choose between continuing university, working for my dad, or breaking up with my girlfriend. I chose the easiest option,” Ashok explained. Despite leaving school, his time spent learning from his father provided him with valuable insights into the property business.

However, Ashok’s ambitions extended beyond the family business, and he soon set out to create his own path, launching Randall’s Finance Brokers which was a small operation with just one desk and three chairs. Here, he offered financial services to businesses and private property developers, marking the beginning of his entrepreneurial journey.

BUSINESS ACUMEN AND GROWTH
Reflecting on his career, Ashok recalls starting Randall’s Finance Brokers at just 24 years old. From there, he moved into some property development and later expanded into the hotel industry, launching the Bayside Hotels group. His business drive eventually led him to establish IBV International Vaults in 2004, inspired by the long waitlist for Standard Bank vault services.

“I identified a gap in the market where people needed secure, high-end vaults, and banks weren’t meeting that demand,” Ashok explained. Since then, IBV has grown into an international brand with nine branches, including the most exclusive vaults in London and Dubai. “It’s been 20 years, and the business continues to grow by filling a market need and offering exceptional services,” he added.

LANDMARK ACHIEVEMENTS
Among his many career milestones, Ashok cites negotiating with Barclays Bank to acquire half of their branch in Mayfair, London, to develop a vault as a particularly significant achievement. “Securing a vault in Mayfair, the most prestigious location in London, was a huge challenge, but one of the most rewarding,” he recalled. Another notable accomplishment was IBV being recognised by the Guinness World Records for hosting the IBV Supercar Club Charity Parade.

Yet for Ashok, every small victory is just as important. “Business is a constant challenge, but with each challenge comes achievement,” he emphasised. His father’s advice to be courageous and to keep business simple has remained a guiding principle throughout his journey.


AN ONGOING JOURNEY OF LEADERSHIP
Ashok believes that the constant challenge of business growth and development is one of the biggest hurdles any entrepreneur faces. “Challenges come at you constantly, but the key is resilience and the ability to learn and grow from setbacks,” he said. His approach to business involves not just focusing on wins but also finding value in losses and using those experiences to become stronger.

Leadership is central to Ashok’s philosophy, and he highlights the importance of clear communication with his team. “Any team needs leadership, direction, and a shared vision. It’s vital to keep the team motivated by ensuring they understand the destination,” he said. By fostering a sense of purpose and unity, Ashok ensures his team stays aligned and driven toward success.

VISION FOR THE FUTURE
Ashok’s family is his greatest source of inspiration. “My wife, children, and grandson motivate me every day,” he shared. He believes that health, family, and spirituality are the cornerstones of life, while business remains a project. This mindset keeps him grounded and focused on what truly matters, despite his professional success.

Looking ahead, Ashok is optimistic about the future of business in KwaZulu-Natal. “The opportunities here are incredible, and despite the economic challenges, I believe that with the right approach, businesses in KwaZulu-Natal have a bright future,” he said. He views the region as a land of opportunity and is excited about the potential for growth and development.

Ashok’s personal motto, “Fear no one, respect everyone”, reflects his approach to life and business. It underscores his belief in the importance of courage, humility, and respect as essential qualities for success.