Skip to content
Search

Latest Stories

Entrepreneur Rikki Verma has a vision for success

One of Britain’s rising entrepreneurs has signed a $10 million (£8m) agreement with the Ugandan government to provide its military facilities with off the-grid solar energy infrastructure.

The contract marks the inaugural project of Nexus Green, which was founded in 2015 by Rikki Verma to facilitate green energy projects in the developing world.


The company has more projects in the pipeline for Uganda, including solar powered water pumps for farmers and “home-kits” that include a small solar panel and LED lightbulbs for those living in remote areas – many of

which still use highly-flammable kerosene as their main energy source.

“There’s a huge problem with connectivity in those remote areas,” Verma told Eastern Eye. “Farmers are unable to connect to the energy [grid] and using diesel becomes very expensive and of course is not environmentally friendly.”

He says he hopes to follow these projects in Uganda by expanding the business into Rwanda and eventually across east Africa.

At 34 years, Verma has spent a majority of his life in business. After studying at Ratcliffe College in Leicestershire, he eschewed university in order to start his first business, in car modification, at 16.

He later pursued food distribution and founded his own brand of Basmati rice, My Skinny Rice, which is sold predominantly in health food stores along the east coast in the US.

Throughout his entrepreneurial pursuits, Verma says his parents – Baroness Sandeep Verma and Ashok Verma – have served as his greatest role models and mentors.

“My mum’s a big fan of throwing people into the deep end and she’s a big fan of entrepreneurship,” he said.

“[Mum said] ‘If you have a dream, you should pursue it’; she’s the one who pushed me to go ahead.

“I used to go to a lot of business meetings with my mum, and that helped me understand that being strategic – saying less and listening more – is more effective than being the loudest in the room.”

In an interview with Eastern Eye, Verma says although the UK government, and the Department for International Trade (DIT) in particular, provide good support for entrepreneurs, its promotion efforts should be streamlined and updated.

“I didn’t know about UK Export Finance until somebody asked me about it,” he said. “I did the research on it and it opened up to be a whole section; I didn’t know we had access to all this money.

“They need to simplify things and use today’s tools, like social media, as a better way of promoting the kind of items that entrepreneurs can have access to.”

On Brexit, Verma is optimistic that the “open door for untapped markets” will help to provide new opportunities for entrepreneurs.

He says he would like to follow his mother, who currently serves as a Conservative peer, into politics, but currently his focus is on growing his businesses. In 2007, he campaigned under the Tory party for a seat in Leicester city council, losing out by 100 votes.

“I think there’s no one [my generation] can relate to at the moment, I really don’t,” he said. “I want to be the representative of my generation and I really feel I’m a people person. I can relate to all walks of life, I think I could make a difference.

“As an entrepreneur you’re not quite doing everything the normal way, you’re thinking outside the box.”

More For You

Anil Agarwal

Vedanta Resources, which is based in the UK and owned by Indian billionaire Anil Agarwal, has been working on reducing its debt. (Photo credit: Getty Images)

Getty Images

Anil Agarwal’s Vedanta Resources signs £438 million refinancing deal

VEDANTA LTD said on Thursday that its parent company, Vedanta Resources, has signed a loan facility agreement worth up to £438 million with international banks to refinance existing debt.

The refinancing move, where old loans are replaced by new ones, often at better terms like lower interest rates, has led ratings agencies such as S&P Global Ratings and Moody's to upgrade their outlook on the company this year.

Keep ReadingShow less
Trump-Getty

Trump said that while deals are being made with some countries, others may face tariffs.

Getty Images

Trump says major trade deal with India may be finalised soon

US PRESIDENT Donald Trump on Friday said a "very big" trade deal could be finalised with India, suggesting significant movement in the ongoing negotiations between the two countries.

“We are having some great deals. We have one coming up, maybe with India. Very big one. Where we're going to open up India," Trump said at the “Big Beautiful Bill” event at the White House.

Keep ReadingShow less
Asda suffers nearly £600m loss as debt and IT costs surge

Asda co-ownerMohsin Issa. (Photo: Asda)

Asda suffers nearly £600m loss as debt and IT costs surge

ASDA, one of Britain’s largest supermarkets, has reported a pre-tax loss of £599 million for 2024, swinging sharply from a £180 million profit the previous year.

The loss comes despite total sales rising by over £1 billion to £26.8bn, as the retailer faces mounting debt costs, falling sales, and spiralling spending on a major IT overhaul, the Telegraph reported.

Keep ReadingShow less
Mounjaro

Mounjaro, or tirzepatide, is part of a new class of weight-loss medications, with trials showing patients losing an average of 20 per cent of their body weight after 72 weeks.

Reuters

Lilly to sell Mounjaro pens in India as Wegovy enters market

ELI LILLY said on Thursday that it has received approval from India's drug regulator to launch pre-filled injector pens of its weight-loss drug, Mounjaro.

The move gives the company more options to compete with Novo Nordisk, which recently launched its weight-loss drug Wegovy in the country.

Keep ReadingShow less
Grant Thornton's Anuj Chande urges UK firms to tap booming India

Anuj Chande

Grant Thornton's Anuj Chande urges UK firms to tap booming India

INDIAN companies are well placed to support the UK’s economic growth, Eastern Eye has been told by Anuj Chande, partner and head of the South Asia Business Group at Grant Thornton.

He was speaking after the publication of Grant Thornton’s India Meets Britain Tracker 2025: The latest trends in Indian investment in the UK, which was released last week. While companies in India need little encouragement to enter the UK market, the reverse is not true.

Keep ReadingShow less