![Overview of the Tea Industry of Bangladesh: Current Challenges and Future Potentials Tea is a non-alcoholic drink that has been an inseparable part of the life of Bangladeshi people for ages. This beverage has always been associated with happiness, refreshment, and rejuvenation. Additionally, tea even has numerous medicinal values. Exporting tea has been one of the major sources of earning foreign currency for Bangladesh for many years. However, as Bangladeshi people started having higher disposable income with an increased tendency to have tea as part of their daily drinking habit, the domestic demand proliferated intensely. A record amount of 96,500 tonnes in 2021 production of tea wasn’t enough to fully meet the local demand, let alone export any significant portion of it [1]. Recently, the tea industry of Bangladesh has faced some volatility due to the tea workers’ protests regarding the daily wage issue and various other challenges. That said, this industry certainly holds numerous opportunities for growth and innovation which can scale up the production of tea and contribute to increasing export volume. Tea Industry in the Global Context The tea industry on an international level has been growing during the past years due to increased customer interest in a variety of tea flavours, premium tea products, practical and perceived health benefits of tea, and higher disposable incomes. According to FAO, the value of the world tea trade is around USD 9.5 billion while global tea production amounts annually to more than USD 17 billion [2]. There have been marked expansions of tea production in the major tea-producing countries. Simultaneously, many emerging and developing economies have been driving the growth in demand. While doing so, these countries have also been able to provide working opportunities and empowerment to their rural households and communities. The estimated world tea production in 2021 is 6.5 million tonnes which is slightly more than 2020’s production of 6.3 million tonnes. China had the largest contribution of 47% to the world production while India holds the second position in this regard. These two countries reached 3.1 million and 1.33 million tonnes of tea production respectively in 2021 [2]. Now apart from the challenge of recovering from the disruption created by the Covid-19 pandemic that had impacted the global tea industry as a whole, a newer obstacle of this industry is the Russian-Ukrainian war since Russia has been one of the key importers of Indian tea for years. The country’s also a major producer of three main types of fertilizers- nitrogen, phosphate, and potash (NPK) [12]so countries that relied on Russia for the supply of Russian fertilizers are suffering right now due to the war. Figure 1: Tea production in major tea-producing countries (in 2020 and 2030) Background of the Tea Industry in Bangladesh The production of tea in the region of Bangladesh has a history of more than 180 years. According to popular belief, the first commercial tea garden was initiated as “Malnicchara Tea garden”, near the current airport road of Sylhet. The number of commercial tea estates and gardens is 167 at present, covering an area of 2,79,507 acres which produce an average of 67,400 tonnes of tea every year [3]. Even though 15,00,000 people are directly employed in the tea industry, the number of people indirectly associated with the related industries is a whole lot more [4]. The level of domestic consumption of tea is increasing at a very fast pace. In 1990, the local consumption was only 18,190 tonnes which in 2016 turned into a whooping 67,031 tonnes [5]. However, the production of tea also increased with time (from 45,190 tonnes in 1990 to 58,050 tonnes in 2016) but that certainly wasn’t enough to cover the whole local demand and still be able to export to foreign countries [5]. As a result, while Bangladesh exported 26, 970 tonnes in 1990, after 26 years, the number dropped down to only 77 in 2016. The import of tea also increased in the meantime, which had been 2,000 tonnes in 2010 and 8,200 tonnes in 2016 [5]. Currently, this second cash crop of the country is contributing to 1% of the GDP and makes up 1.89% of global production. Apart from Moulvibazar, Habigonj, Sylhet, Chittagong, Panchagarh, and a few more areas of the country right now contribute to the majority of the production. Bangladesh Tea Board or BTB is the main regulatory body of the tea industry of the country along with its two organs namely the Bangladesh Tea Research Institute (BTRI) and the Project Development Unit (PDU). Labour Situation of the Tea Industry While the tea workers have been exploited by plantation owners for a very long period, the issue was brought in front of the mass only recently when these workers started a massive protest demanding 300 BDT (USD 3.15) as their wage per workday, which previously had been BDT 120 (USD 1.25) only [6]. This extremely low level of daily wage along with rising inflation and price hike has been diminishing the lifestyle of the tea garden workers miserably. On top of that, they live in some of the remotest areas of the country for which they barely get any sort of medical and educational facilities. These workers, during the initial period of plantations, were recruited from the famine-afflicted underprivileged tribal demographics, by alluring them with a promise of a better life, although the true motive was to ensure a captive labour force with low wages. Since then, tea garden workers have been working for five generations throughout the last 170 years and the current situation of these workers requires the attention and support of the authority. Even though the tea garden owners argue to provide USD 4 a day in the form of facilities like a medical fund, retirement benefits, and so on, in reality, tea workers are getting hardly 3 kg flour of ration per week to keep them half-starved most of the time while 46% adolescents are victims of child marriage and 15% females suffer from cervical cancers [7]. The protest of these workers did end with the daily wage being finalized at 170 BDT per day with the intervention of Prime Minister Sheikh Hasina [8], but the question remains, that if this amount is still sufficient for these workers, described as “modern-day slaves” by journalist and director of SEHD (Society for Environment and Human Development) Philip Gain, to have required health facilities or a sustainable lifestyle. Key market players in the Tea Industry Presently there are multiple brands in the industry such as Ispahani Mirzapore Tea, James Finlay Bangladesh, Kazi and Kazi, Duncan Brothers Bangladesh Limited, Abul Khair Group, Orion Group, Transcom Group, Fresh Tea from MGI, and so on. The market leader, however, is Ispahani Mirzapore, with a market share of 50% in the market of nationally branded tea and an 80% share in the branded tea bag market [9]. The market size of the industry was BDT 3500 crore in 2021 and in the same year, the export earnings were BDT 180.57 million [3]. In the previous year, the country exported tea worth USD 4.33 million, being the 56th largest tea exporter in the world. In that year Pakistan was the country with the highest amount of tea imported from Bangladesh valued at USD 2.27 million. The other destinations of Bangladeshi tea were United Arab Emirates (USD 1.15M), the United States (USD 6,25,000), Kuwait (USD 67,000), and Canada (USD 63,500) [10]. The basic five types of tea that are produced by these companies are black tea, green tea, oolong tea, white tea, and instant tea. Figure 2: Tea Export Earnings from 2012-2021 Underlying Challenges The tea industry in Bangladesh is facing multiple challenges at this moment. The fact that the amount of export is continuously decreasing has already been discussed earlier. Apart from that, there are various other issues to deal with. Antiquated Irrigation System The country’s current irrigation system is almost ancient which scales down the level of production to a great extent. While countries like Kenya and Sri Lanka have per hectare productivity rates of 2321 and 1763 kg respectively, that of Bangladesh is even lower than the world average, being only 1245 kg [5]. Dependency on Single Source of Labour The country’s tea industry labour force is composed of only the tribal casts who have been in this workforce for several generations. But since both the local and global demand is increasing, if the source of labour is not diversified, then very shortly there will be an acute shortage of labour. Even the existing labour force receives a very low level of daily wage, deals with social issues like child marriage, and has access to almost no medical or educational facilities. The substandard lifestyle of theirs makes them demotivated to work and reduces their productivity to some extent. Climate Change Finally, global warming is a major concern since maintaining the optimum weather condition is absolutely crucial but in recent times, global warming repercussions appeared either in the form of excessive rainfalls, thunderstorms, and increased air humidity, or no rain at all as droughts. Both these situations result in low yields of tea production. Lack of Customer Interest for Premium Quality Tea While local customers are becoming more and more habituated with tea drinking habits, they have little interest in high-quality tea variants due to the premium pricing of such products. That said, the market of premium quality tea is quite different when it’s in the international context. In regions like Europe and America, these premium teas have very promising demand. Apart from that, the tea industry of Bangladesh has many other growth potentials and scopes for innovation. Growth Potentials and Innovation The tea industry, despite dealing with some challenges, does offer some amazing opportunities to grow further in the future. Both the local and global demand for traditional and high-quality tea is on the rise so if the country manages to scale up the production, that would result in a high return on investment since the demand is higher than the supply at this point. The governmental policy regarding the tea industry has also been favourable since the beginning. With its assistance, tea production has already been initiated in the plain lands of the northern region of the country including Panchagarh and Thakurgaon [11]. Utilizing unused and idle plain land which cannot be used for any other agro-based production anyway, if those lands can be used for tea production instead, then this would definitely contribute to the meeting increasing demand for tea, both in the home and global market. The government now is expected to facilitate the innovation of new variants of tea, while enhancing production, marketing, and auctioning. The transformation of flat lands as cultivable for tea prediction has been extremely promising so far since 12% of the current total production is from these areas. Since the demand is increasing at a very fast pace, utilization of flat lands for tea production is crucial. One contemporary innovative approach in this industry is promoting tea as a skincare and beauty product. Using the by-products of tea leaves and using them for making skincare products can be a whole new industry that could not only cater to the home demand for beauty products but also be exported as well since tea is internationally known for its medicinal and health values. Finally, proper marketing strategies for the newly introduced tea variants such as ginger, matcha, turmeric, cumin, etc. could contribute more to the local sales of these products. The Future Ahead The current focus at this point should be to figure out ways to increase domestic production as much as possible so that tea products can be exported even after meeting the local demand properly. For that, there is no alternative to modern and artificial irrigation systems to deal with unpredictable or hostile weather conditions that cannot create any impediments. The ancient tea bushes with plunging production ability should be replaced with new trees because tea plants usually lose their peak productivity rate after a certain period of time. Moreover, using natural fertilizers in the plantation gardens should be prioritized as well. The other tea-producing countries are currently having a huge competitive advantage due to the low cost of production and high productivity. In Bangladesh, the existing labour force should be provided with higher daily wages to enhance their quality of lifestyle and adequate training facilities to level up their skills and productivity. The present cultivable land is insufficient to increase both the export amount and satisfy the local consumption, so the authorities should patronise and encourage more the utilization and expansion of such land as well. Modernization of the supply chain, minimization of impurity, and magnification of the marketing efforts for the newly introduced variants of tea could be the way to maximize the production of the tea industry in this country.](https://www.lightcastlebd.com/wp-content/uploads/2022/12/tea-industry-feature.jpg)
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Bijon is the cofounder and CEO of LightCastle Partners, an organization that focuses on creating data-driven opportunities for growth and impact for development partners,corporates, SMEs and Startups. Over the last five years Bijon has led the company in engagements across 100+ businesses/development partners, 300+ SMEs/Startups and 20+ accelerator programs in multiple industries including Technology, Agriculture, Health, Energy and Manufacturing. Recently, LightCastle has also partnered to launch a Smart Capital Investment Program which facilitates growth capital for SMEs/Startups.
Previously Bijon has worked with Citibank, N.A. and Citi Foundation and oversaw execution of Bangladesh’s first Interest Rate Swap, Equity Convertible Bonds, Largest IPO, Microfinance Securitization and Block Equity Trades. Due to outstanding performance, Bijon had received the CEO Excellence Awards for two years in a row in the organization.
In 2015 Bijon was nominated as 15 under 35 in Bangladesh by Future Startup (leading Startup media in Bangladesh) and Top 7 Rising Young CEOs by Startup Dhaka. Bijon is an active ecosystem builder and has attended 50+ entrepreneurship development events as judge/panelist/resource-person including Startup Weekend, Startup Cup and Innovation Extreme.
Bijon has Bachelors and Masters in Business Administration from Institute of Business Administration, University of Dhaka.
As an entrepreneur, Ivdad loves to dream big, work more, and talk less. And he believes that his ambition will drive his ability.
Ivdad’s passion for a data-driven economy led him to establish LightCastle Partners (LCP) as a premier consulting firm in Bangladesh. Working at the intersection of data, development, technology and finance over the past six years, he has helped chart 200+ impact stories by enabling 400+ organizations – spanning private, public and development – become comfortable with data-driven decision making.
He has collaborated with some of the leading corporations, foundations and nonprofits including Boston Consulting Group, the Bill & Melinda Gates Foundation, the World Bank Group, ACDI VOCA & UN Capital Development Fund. Primarily his work focuses on management consulting, impact investing, and ICT for development.
Ivdad has an MBA from the Fuqua School of Business at Duke University, U.S.A. and holds a bachelor’s degree in Business Administration from the Institute of Business Administration (IBA) at the University of Dhaka. While doing his MBA, he spent his summer working between Microsoft and Venture Hive developing strategy and execution plan for the first ever Microsoft Innovation Center in Miami, Florida. He has also consulted for Awethu – one of the largest social entrepreneurship incubators in South Africa – building bridges between social entrepreneurs and science institutes for commercial application of modern scientific products in the context of African economy.
A collaborator at heart, Ivdad is a big believer in the notion that collaboration > competition. He feels most comfortable playing the role of another cog in the wheel. He enjoys business development, communication design and product management. Winning small, aiming tall and constantly having a ball is his mantra in life. One can’t keep him away from reading and traveling in his leisure time.
Zahedul Amin is an entrepreneur, sustainable business consultant and a researcher with 12+ years of experience in private & development sector consulting, market research and banking. Zahed has expertise in consulting and research, and has led 140+ projects with private and development sector clients. He believes in the power of data in driving strategic imperatives for clients. Based on his diverse experiences, he’s adept at cross-migrating sector best practices for designing sustainable business models and engaging the private sector in solving development challenges. He has significant expertise in market and consumer research, value chain analysis, business model development, private sector engagement, financial modeling and impact assessment.
Before co-founding LightCastle Partners, Zahed worked for HSBC’s corporate banking department, specializing in relationship management and risk analytics. As part of the relationship management team, he helped manage a portfolio of USD 120 million.
Zahed holds BBA and EMBA degrees from Institute of Business Administration (IBA), University of Dhaka. He’s an International Visitors’ Leadership Program (IVLP) alum and an entrepreneurship fellow at State University of New York (SUNY) Korea.
Shawkat Hossain is the current Managing Partner of Velocity Asia, an alternative investment company based out of Bangladesh. He is the former Managing Director at BD Venture Limited and serves as the General Secretary of VCPEAB. He has 35 years of experience in his credit out of that 7 years in Venture Capital, 10 years as bankers and 18 years in financial management/ accounting profession. He worked for different sectors such as manufacturing, NGO, and banks and in different reputed organization such as BRAC, BRAC Bank, Prime Bank, and ICDDRB, among others. He is experienced to work in multicultural environment such as in Afghanistan for one and half years and was instrumental in setting up a foreign bank in Afghanistan.
He served as Head of SME and Senior Executive Vice President of Prime Bank Ltd., leading a team of 250 staff located at 55 branches and 17 SME branches. He was Head of SME of BRAC Bank Limited and leading a team of 700 staff located at 250 marketing unit offices spread in 62 districts. He was Head of Finance and Finance Manager at BRAC for six years. Mr. Hossain has completed his Masters in Development Management from Asian Institute of Management, Manila, Philippines in 1994, where he received an ADB scholarship.
Md. Mahedi Masud is a highly qualified Chartered Accountant, holding over 5+ years of working in the field of Accounting & Finance, representing firms such as Rahman Rahman Huq (KPMG in Bangladesh). Prior to that, he did his graduation from University of Chittagong. He is highly skilled with numbers, and a master when it comes to accounting and finance. He believes in having a works hands-on with clients providing monthly management accounts, performance reporting, bookkeeping advice, and support. Mahedi always strives to deliver excellent service and is well-equipped with practical financial information.
Saqif is at present working in the Trust and Safety Zone in TikTok, looking after the South Asia Markets. Besides this, he is an Analytics Adviser at Intelligent Machines Limited (a company working with machine learning and big data) and Upksill (a professional training and certification platform), and works on several other strategic and analytics consultancy projects. He is also a Senior Expert in Data Analytics and Business Intelligence for LightCastle Partners, and a professional trainer for Upskill, GP Accelerator and National University of Singapore Executive Education School.
Recently, he has worked with IBA, Dhaka University to introduce the first ever Business Analytics course for undergraduates doing BBA. He did his Masters in Management, focusing on Data Strategy, from National University of Singapore, before which, in 2012 he completed his MSc in Operations and Risk Management from University of Manchester and did his BBA from IBA, Dhaka University in 2011.
His consulting and work areas of focus are – data-driven decision-making, application of machine learning in businesses, transforming businesses to be data driven, strategic risk management, and simulations. He also specializes on startup scaling up and strategic planning. He has also published in world renowned journals research articles on decision making and future scenario planning.
Strong business acumen with a high level of IT and digital expertise, CTO role running the digital division of this Organization. Rasel is a customer-focused product and technology executive with a passion for driving commercial and social change through digital transformation.
He has a track record of success in corporate and startup environments and has strong leadership with vision and excellent team-building and management skills, able to operate in complex environments whilst managing technologists and digital professionals. Rasel has a passion for customer experience and building compelling digital products for customers combining innovative design with high-performance technology.
He has several years of hands-on experience scaling agile development for larger projects and introducing agile development on an enterprise scale.
Rasel is passionate about tech-based inventions and loves to articulate his thoughts by developing creative software applications. His interests range from technology to travel. His current passions include blockchain, cryptography, and Tech for Good!
Radi Shafiq is currently a Principal Business Consultant and Portfolio Manager at LightCastle Partners. He has earned a Master’s Degree in Development Studies from the University of Dhaka and a BBA from IBA (DU) and has been working in various management capacities in the development sector since 2014. He is specialized in project management, human resource development, and system design.
While Shafiq started his career directly working in the coastal salinity-prone areas and northern river islands in women empowerment, agriculture, and water & sanitation projects, he subsequently worked with multiple successful grant proposals and was also involved with overall follow-ups of the Friendship Executive Director’s office – where he had initiated specific PR campaigns and an employee leadership development program. Moreover, He played a vital role in Friendship NGO’s organizational development process, designing the first point of contact for most of the incoming communication, management reporting development, and improving coordination. During his tenure, the organization grew 4x to an annual budget of 16 million Euros, serving 7.5 million people.
In 2016, he was awarded the ‘Asian Development Bank, ASSIST – Youth4Asia Solution Search Award’ in the Philippines, where he presented the role of governance training in remote areas.
Omar Farhan Khan is a Senior Business Consultant & Project Manager at LightCastle Partners with expertise in business incubation, accelerators, market value chain analysis, capacity development, and impact assessment with a market systems approach. Omar believes that innovative data-driven solutions will create value for businesses and the economy, solving the problems of SMEs & Startups via Accelerator, Mentorship & Incubation programs, creating market linkage opportunities, and assisting in access to finance. He envisions Bangladesh’s enterprises will take the next leap along with Private Sector and policy engagement. To make that happen, we must focus on a triple-bottom approach – Profit, People & Planet. Sustainable businesses will create a sustainable economy where everyone can thrive.
With good analytical knowledge, a strategic mindset, and innovative problem-solving skills, Omar has synthesized solutions for the development, government, and private sectors. He has worked on several projects requiring collaboration with institutional stakeholders, community-level organizations, and private organizations catering to many beneficiaries. His client portfolio ranges from development partners and ministries to corporates and start-ups. Some notable clients include Meta, Swisscontact Bangladesh, Embassy of Switzerland, IDB, ITFC, Chemonics, WorldFish, OXFAM, Trade Facilitation Office (TFO) Canada, ACDI/VOCA, USAID, Grameenphone, DFID, WB, IFC, GAIN, WFP (World Food Programme), BFP-B, MRA (Microcredit Regulatory Authority), Invest to Innovate (i2i), UKAid, BYLC, GEN, UNCDF, a2i, TruValu, VCPEAB, BD Venture, UNCDF, ICT Ministry, Ministry of Education, Bill & Melinda Gates Foundation, ITC, Bangladesh Angel Network (BAN), Global Entrepreneurship Network (GEN), Founders Institute (FI), Banglalink Telecom, Babson College, BRAC Bank, Youth Opportunities, BYLC, RDRS, WAVE Foundation, and iDE Bangladesh.
Omar graduated from North South University School of Business and Economics, Bangladesh; he obtained a Bachelor’s in Business Administration with majors in Finance & Accounting and Marketing; currently, he is pursuing an MSc in Economics from the same university. He also has a Post Graduate Diploma in Islamic Finance Practices (PGDIFP) from EDUPRO UK and certificate training in Islamic Finance & Economics and Sukuk: Principles, Structures, and Documentations (AAOIFI Affiliated).
Mehad currently serves as the Project Manager & Sr. Business Consultant at LightCastle Partners. In addition, he also holds the role of Country Coordinator at “Biniyog Briddhi”, a 4-year impact investment catalytic program funded by the Swiss Embassy.
Mehad is a certified Project Management Professional (PMP®️). His client portfolio ranges from Development Partners, Ministries to Corporates, and Startups. Some of the notable clients were UN, UKAID, GAIN, WFP (World Food Programme), WorldFish, VentureHive, UN Women, MBDA, BFP-B, MRA (Microcredit Regulatory Authority), i2i, BASIS, OXFAM, BYLC, GEN and a2i.
Previously he led the Strategic Partnership & Investment team of the largest service marketplace/ MSME platform in Bangladesh, Sheba Platform Limited (Sheba.xyz). Some of his essential contributions in the two years of tenure were, (i) Closed 20+ commendable strategic projects in partnership with multiple startup, corporate, development, and public organizations; (ii) Introduced a digital loan banking platform with an alternative credit rating blueprint for MSMEs; (iii) Raised over USD 1.5 million (10 crores BDT) fund capital of grants and equity investment from angels, corporate funds, and development sector donors.
He is a business strategy consultant and an active ecosystem builder, engaged in Bangladesh’s startup ecosystem since 2013. As a patient and structured planner, Mehad’s greatest strength is far-sight strategy formulation and structured problem-solving skills to deliver sustainable solutions. Overall, he possesses 8+ years of startup-related experience, including 6+ years of full-time experience in project management, investment readiness, business modeling, strategy planning and implementation.
An impact-driven individual with an avid interest in economic development, gender inclusion, and climate resilience through policy advocacy and innovative finance. Fariha has experience conducting market research and financial analysis, analyzing and visualizing data, developing reports and policy papers, managing multi-year and cross-country projects, and collaborating with international and local clients. Her client portfolio includes regulatory authorities, development partners, global investors and foundations, large corporates, and startups. Some of her notable clients are: the Asian Venture Philanthropy Network (AVPN), the Bill & Melinda Gates Foundation (BMGF), Aqua for All, the Embassy of Switzerland in Bangladesh, the International Labour Organization (ILO), Roots of Impact and Social Finance, amongst others.
Fariha is a Cum Laude graduate from Maastricht University, with a BSc in Economics and Business Economics. She has previously worked in Innovation Strategy at Henkel AG & Co. KGaA, Dusseldorf.
Business consultant bringing 4 years of project management experience, having managed multidisciplinary projects across Bangladesh, Vietnam, Cambodia and Uzbekistan, with a portfolio total of approx. $6 million. Currently working in projects on nutrition, WaSH and investment climate. Completed BBA from Institute of Business Administration, University of Dhaka.
Currently working as a Senior Business Consultant and Project Manager at LightCastle Partners, Md. Mubassir Rahman brings with him the experience of conducting market and consumer research based on numerous well-established methodologies and global models. Within the Strategy Consulting Team, he dedicates his time to sharpening the research tools, instruments, and analytical approaches, leading to the extraction of impactful granular insights from data.
Nazmul Kabir Al-Mehmud is an experienced development professional with varied experience over the past 9 years in MoWCA, UNICEF, UNFPA, PSTC, Digicon, and East-West Industrial Park Ltd, he was a change agent to uplift the lifestyle and bring growth of underprivileged groups especially the youth through providing life skills and youth and adolescent empowerment programs. Mehmud is also the president of the United Nations Youth Advisory Panel (UNYAP) in Bangladesh. He is experienced in Project Management, Leadership, Inclusive Education, and Peer Education to enhance youth leaders’ capacity building. He holds a Masters in Population Sciences (MPS) from Dhaka University. Working under various international donor agencies has enabled him to amass vast experience in Youth development at home and abroad. He attended more than 10 National and International Events and represented Bangladesh in ECOSOC Conference in the USA, Indonesia, & HOPE XXL in the Netherlands as the youth leader.
An Economics graduate with a knack for problem-solving and strategic solutions, Saud is highly driven by challenges. Over his five-year experience in the development sector, he has worked across a number of projects spanning multiple domains including education, leadership development, skill development of youth, and community development of underprivileged areas. He is currently handling projects on small business acceleration and impact investments. He completed M.Sc. in Economics from Independent University Bangladesh and M.Ed. in Educational Leadership and School Improvement from BRAC University.
Shubham has 4 years of professional experience in monitoring and evaluation (M&E), project management, business intelligence, research, data analysis, program evaluation, donor reporting, and knowledge management. In his previous role, he gained experience designing and implementing M&E systems for multiple development projects targeting more than 20,000 beneficiaries. He is interested in qualitative and quantitative research, impact assessment, survey instrument design, data visualization, and data management.
Shubham completed BSS in Economics from the University of Dhaka. He is an International Exchange Alumnus who has been actively involved in youth development and community services over the last 12 years. He also served as a member of the United Nations Youth Advisory Panel in Bangladesh.
Rafayet Khan is currently working as a Business Consultant at LightCastle Partners. He is one of the key personnel of the Business Development and Marketing team, carrying out multi-functional responsibilities and coordinating key engagements with stakeholders. A business graduate from BRAC University who has experience in running a social enterprise called ‘Resurgence Bangladesh’, he has a great interest in market research and data analytics. , he aims to become an aspiring figure in the field of Business.
A CSE graduate who finds her interest in design and has been successfully working as a designer since 2017. Highly creative with extensive experience in Branding, Print Design, Data Visualization, and UI/UX. Her Bachelor’s in CSE helps her better understand the website and mobile applications.
A business graduate with a dual major in Finance and Marketing from North South University. Her knack for data analysis for contriving successful business cases encourages her to build a strong career in Business Analytics and Management. She has experience working in the major sectors which boosts the economy, such as, poultry, animal feed, banking, etc. Aims to expertise in value chain assessment based on data-driven insights to visually depict an industry.
Mrinmoy Sobhan is currently working as a Business Consultant at LightCastle Partners with expertise in business incubation and accelerators, market and value chain analysis, capacity development, and impact assessment. Pursuing a career in strategy and business consulting, he believes that innovative data-driven solutions will create value for businesses and the economy.
An individual with good analytical knowledge, a strategic mindset, and innovative problem-solving skills; Mrinmoy has synthesized solutions for the development, government, and private sector. He has worked on several projects which have required collaboration with institutional stakeholders, community-level organizations, and private organizations that cater to a multitude of beneficiaries. His client portfolio ranges from development partners, and ministries to corporates, and start-ups. Some of the notable clients include Meta, Swisscontact Bangladesh, Embassy of Switzerland, WorldFish, OXFAM, Trade Facilitation Office (TFO) Canada, ACDI/VOCA, USAID, Grameenphone, iDE Bangladesh.
Mrinmoy is a graduate of Maastricht University School of Business and Economics, Netherlands, where he obtained a BSc in Economics and Business Economics; specializing in International Business Economics and majoring in Strategy. He has also attended the University of Bern in Switzerland under the ERASMUS Program. In addition to his international background, Mrinmoy also comes with the experience of co-founding and operating a youth-focused social organization, Ascension Foundation, which strives to tackle various socio-economic issues at a grassroots level.
A graduate in Physics and Mathematics from Monash University, Australia, with previous experience in data science. He enjoys working with big data and has a knack for machine learning. He aims to use the power of data in order to generate insights that help in smart and informed decision-making for businesses.
Fahmid is a fresh graduate with an Economics major from BRAC University and has a keen interest in the field of financial economics. He aspires to be the bridge of help for the underprivileged, and alleviate inequality in society. He aims to harness skills and experience from multiple sectors in order to thrive toward his passion.
A Business graduate, with a dual major in Finance & Marketing, from North South University. Samiha is a key part of the Management Consulting team, working to solve the most pressing bottlenecks in businesses. From assessing supply chain dynamics to understanding various stakeholder interplay across a sector, she contributes to her team by providing deep insights that foster innovation and guide organizations. She specializes in performing crucial tasks including devising data collection instruments, analyzing clusters of data to turn them into meaningful information, training field teams, and churning out crisp and insightful reports.
A graduate of Economics from East West University, Subrina brings with her 6 years of combined experience in the financial industry, NGO, and research. Her skills range from marketing, business analytics, cross-industry partner management, and team leadership. She is deeply passionate about creating impactful solutions to development issues through insightful and data-driven frameworks.
Tariqur Rahman is currently serving as the Digital Marketing Specialist at LightCastle Partners. Previously, he has served as the Content Lead at an SEO services start-up called OneLitteWeb and as a Marketing Operations Specialist at NewsCred (now acquired by and rebranded as Optimizely), among others.
As a well-rounded marketing professional with experience in various marketing-related roles, he believes in the power of data-driven marketing to bring about positive and measurable business outcomes. His areas of strength include content development, marketing operational excellence, a data-driven approach, and an ROI-focused mindset, among others.
He has completed a Bachelor’s in Accounting from the Swinburne University of Technology in Melbourne, Australia. He is also pursuing a Master’s in Media and Communication Studies from Independent University, Bangladesh.
Lidia concentrates on project management, coordination, strategic partnership, and marketing and communications with three years of diverse experience in the Development sector and Startup. Being an Accounting graduate combined with the experience helps her to devise solutions to operational obstacles. She has completed her graduation from Jahangirnagar University in Accounting and Information Systems.
Pranto is a finance graduate from North South University, who enjoys working with numbers and data. He is keen to learn about global finance and the fundamentals of financial forecasting. In the future, he aspires to hone his skills in Data Science and use them to generate a positive impact on the sports industry of Bangladesh.
A highly motivated individual who graduated with a major in Economics and Social Science from Brac University. Prior to joining LightCastle, she completed an internship program at BRAC under the Programme Development Resource Utilization and Learning Department. With a keen determination to adapt and improve, she is committed to making a difference through the use of systematic approach to solving problems.
Rakin is a major in BSc Economics from North South University. The individual has worked for over a year in marketing and content strategy, where he understood the importance of a data-driven approach. Combined with the thought of inclusive growth, he has joined LightCastle Partners with a vision to implement data-driven inclusive systems that better the community and economy.
A Business Analyst with a knack for data. Raidah completed her Bachelors of Social Science in Economics from BRAC University, specializing in Mathematics. By bridging her programming and consulting skills, Raidah aims for building a career in Data Analytics to deliver data-driven insights into Behavioral and Development Economics.
Wasema is a marketing graduate from the Institute of Business Administration, University of Dhaka. While working across several sectors including development, biotechnology, and artificial intelligence, Wasema has reignited her passion for impact-driven work and wishes to work in areas of gender equity, financial inclusion, and economic development.
Specialized in visualization, UI/UX design, content generation and A/V for branding with an experience of 4 years encompassing a portfolio consisting of both local & multinational clients. Completed Bachelor’s in Computer Science from American International University-Bangladesh (AIUB).
Specialized in Computer Graphic Design, Video Editing, and Motion Graphics. Asif tells stories with data and visuals. He has over 2 years of experience in the corporate sector and also worked for local clients in the field of IT, Telco, Education, among others. He is a Computer Science graduate from the University of Asia Pacific (UAP).
Veteran in cash management, payment processing with records keeping as per standard accounting rules, procurement accounts, fixed assets, bank reconciliation, project basis accounting, budgeting, financial reports. Alongside, he also looks into HR and operations. Previously he worked in Finance & Accounts department at Enroute International Limited.
Engineer and passionate software developer. Carries over six years of professional experience in developing web-based applications. Loves to run experiments with latest technologies. Currently working on projects in agro analytics. Previously worked in an AI based organization, Socian. Completed graduation in Computer Science and Engineering from National University.
A creative and expert lead Android Developer, with over 5 years of experience architecting and building cutting-edge Android apps for mobile devices for the social media, survey and ride-sharing platforms. He has an in-depth understanding of android applications and is currently working on projects in relation to agro-analytics, data analytics and management consulting. He previously worked at Nanosoft, Golden Reign Ltd and Doodle Inc. after completing his graduation in Accounting from National University.
Experienced as a Data Manager at various reputed research firms for over three years, Lotifa previously worked for two years as a BPO center and call center executive at telemarketing companies. She is currently working as an Assistant Data Manager at LightCastle Partners. Lotifa graduated from National University and is currently a postgraduate student in Political Science.
Has completed Bachelor’s in Electrical and Electronics Engineering from American International University-Bangladesh (AIUB). Has 2 years of experience as a trainer and team leader, having worked across several BPO sectors. He also has vast experience in working with numerous business organizations and consultants and has expertise in the implementation of agricultural-based projects in Bangladesh.
Zawad is working as a Trainee Consultant on the LightCastle team for the duration of his internship semester at Independent University, Bangladesh. He is majoring in finance, and his minor is marketing. He is working closely with the Marketing and Business Development teams at LightCastle Partners. Zawad is curious about financial markets and investment management from a financial standpoint and is also interested in brand development and advertising strategies from the marketing side. Animal welfare and environmentalism are some causes Zawad takes a firm stance on.
Nuzhat Naoshin is a graduate and highly motivated toward HR management and its functions. She completed her Bachelor of Business Administration from Brac University by pursuing a double major in Human Resources Management and Finance.
By merging her knowledge and skills, she wants to build her career in HR to carry out various responsibilities in different functional areas such as recruitment and selection, policy implementation, etc.
MD. Sohel Rana Basunia is a graduate of the National University (Rangpur) and wants to establish his career as a Researcher, Trainer, and field expert. He is currently employed as a field officer, collecting data, maintaining good relationships with MSMEs, and carrying out directives in the Rangpur region.
Samad Miraly is an investor. He comes from an industrialist family with experience in frontier markets. Samad is currently an Executive Director at Olympic Industries Limited, a publicly listed FMCG manufacturing company and the largest biscuit manufacturer in Bangladesh.
Additionally he is also a partner in IDLC VC Fund 1 which is managed by the venture capital wing of IDLC Finance – leading NBFI in Bangladesh. He also serves on various other boards and organizations.
Samad’s particular interest in investing in innovation led to his work in Bangladesh’s tech startup industry. He co-Founded Startup Dhaka, which designed and operated the first-in-class GP Accelerator in partnership with Grameenphone (a Telenor company) – a project which he spearheaded.
Anita Ghazi is the founder and partner of The Legal Circle, a renowned firm of barristers, advocates and legal consultants specializing in representing clients in Bangladesh on both domestic and international legal matters. Anita qualified as an Advocate in Bangladesh in 2004, as Advocate of the High Court Division of Bangladesh Supreme Court in 2006 and as Advocate of the apex Court, the Appellate Division of the Bangladesh Supreme Court in 2018. Moreover, she is a proud alumna of Common Purpose, a not-for-profit organization, that develops leaders through leadership programmes, enabling them to cross boundaries and solve complex problems both in organizations and in cities.
Anita has been working with startups for almost a decade, having been listed amongst the “Inspiring individuals to follow in 2015 in Bangladesh” in Dhaka Tribune, Future Startup’s “15 Under 35 For 2015: Entrepreneurs, Trailblazers, Mold-Breakers Of Bangladesh” and has been featured in the book “From Stones to Castles : In conversation with 16 inspiring personalities of Bangladesh” and “Aine Tarunno”. She is a Asia 21 Young Leader for the Class of 2016 and one of the initial signatories to the Belt & Road Legal Service International Cooperation Platform.
Anita is an Independent Director of LightCastle Partners, Chittagong Stock Exchange, previously having served as Independent Director of Golden Harvest Agro Industries Limited, and is a Member of the National Advisory Board for Impact Investment in Bangladesh.
Bijon is the cofounder and CEO of LightCastle Partners, an organization that focuses on creating data-driven opportunities for growth and impact for development partners,corporates, SMEs and Startups. Over the last five years Bijon has led the company in engagements across 100+ businesses/development partners, 300+ SMEs/Startups and 20+ accelerator programs in multiple industries including Technology, Agriculture, Health, Energy and Manufacturing. Recently, LightCastle has also partnered to launch a Smart Capital Investment Program which facilitates growth capital for SMEs/Startups.
Previously Bijon has worked with Citibank, N.A. and Citi Foundation and oversaw execution of Bangladesh’s first Interest Rate Swap, Equity Convertible Bonds, Largest IPO, Microfinance Securitization and Block Equity Trades. Due to outstanding performance, Bijon had received the CEO Excellence Awards for two years in a row in the organization.
In 2015 Bijon was nominated as 15 under 35 in Bangladesh by Future Startup (leading Startup media in Bangladesh) and Top 7 Rising Young CEOs by Startup Dhaka. Bijon is an active ecosystem builder and has attended 50+ entrepreneurship development events as judge/panelist/resource-person including Startup Weekend, Startup Cup and Innovation Extreme.
Bijon has Bachelors and Masters in Business Administration from Institute of Business Administration, University of Dhaka.
As an entrepreneur, Ivdad loves to dream big, work more, and talk less. And he believes that his ambition will drive his ability.
Ivdad’s passion for a data-driven economy led him to establish LightCastle Partners (LCP) as a premier consulting firm in Bangladesh. Working at the intersection of data, development, technology and finance over the past six years, he has helped chart 200+ impact stories by enabling 400+ organizations – spanning private, public and development – become comfortable with data-driven decision making.
He has collaborated with some of the leading corporations, foundations and nonprofits including Boston Consulting Group, the Bill & Melinda Gates Foundation, the World Bank Group, ACDI VOCA & UN Capital Development Fund. Primarily his work focuses on management consulting, impact investing, and ICT for development.
Ivdad has an MBA from the Fuqua School of Business at Duke University, U.S.A. and holds a bachelor’s degree in Business Administration from the Institute of Business Administration (IBA) at the University of Dhaka. While doing his MBA, he spent his summer working between Microsoft and Venture Hive developing strategy and execution plan for the first ever Microsoft Innovation Center in Miami, Florida. He has also consulted for Awethu – one of the largest social entrepreneurship incubators in South Africa – building bridges between social entrepreneurs and science institutes for commercial application of modern scientific products in the context of African economy.
A collaborator at heart, Ivdad is a big believer in the notion that collaboration > competition. He feels most comfortable playing the role of another cog in the wheel. He enjoys business development, communication design and product management. Winning small, aiming tall and constantly having a ball is his mantra in life. One can’t keep him away from reading and traveling in his leisure time.
Zahedul Amin is an entrepreneur, sustainable business consultant and a researcher with 12+ years of experience in private & development sector consulting, market research and banking. Zahed has expertise in consulting and research, and has led 140+ projects with private and development sector clients. He believes in the power of data in driving strategic imperatives for clients. Based on his diverse experiences, he’s adept at cross-migrating sector best practices for designing sustainable business models and engaging the private sector in solving development challenges. He has significant expertise in market and consumer research, value chain analysis, business model development, private sector engagement, financial modeling and impact assessment.
Before co-founding LightCastle Partners, Zahed worked for HSBC’s corporate banking department, specializing in relationship management and risk analytics. As part of the relationship management team, he helped manage a portfolio of USD 120 million.
Zahed holds BBA and EMBA degrees from Institute of Business Administration (IBA), University of Dhaka. He’s an International Visitors’ Leadership Program (IVLP) alum and an entrepreneurship fellow at State University of New York (SUNY) Korea.
Affan is a serial entrepreneur with 14+ years of entrepreneurial experience, which includes working with 10+ industry leaders and Fortune 500 companies across Bangladesh, Singapore, Canada, the UK, and the USA.
He is the Co-founder & CEO of Notionhive, a digitally-led, full-service creative agency with offices in Bangladesh and North America. He is also an Independent Business Advisor and Startup Mentor at Invest Ottawa, a leading economic development agency for fostering the advancement of the region’s globally competitive knowledge-based institutions and industries.
Saif is a Co-founder of LightCastle Partners and currently a Professor & Program Coordinator at George Brown College, Canada. He also founded and now leads as the President & CEO of JIT Consulting in Ontario, Canada. He is a certified Project Manager (PMP) and Business Analyst (CBAP and PBA) with over 13 years of experience in Management Consulting, Information Technology, and Investment Banking domains. He is also a certified Lean Six Sigma Black Belt practitioner (ASQ, USA).
Beginning his career in Investment Banking back in 2009 and over the past 13 years, Saif has managed and executed 100+ projects including project planning, financial analysis & budgeting, resource management, work delegation, monitoring and controlling, and reporting. Assessed client’s business for enabling change and creating business value by eliciting and structuring requirements, analyzing current state, devising change strategies, and recommending effective and sustainable solutions. Prepared dynamic financial models and prepared advanced company valuation and financial projection documents for assisting clients make investment decisions.
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