President pays tribute to businessman Nicos Shacolas after his death

Nicosia, Cyprus. President Nikos Christodoulides on Thursday expressed condolences following the death of prominent Cypriot businessman Nicos Shacolas, describing him as a pioneering and distinguished figure in Cyprus’ business community.

Presidential statement

In a written statement, Christodoulides said he had learned of Shacolas’ death “with sadness” and praised his lasting contribution to the country’s economic and social development.

“Nicos Shacolas left an indelible mark on the business life of our country through his extensive activity both in Cyprus and abroad, which spanned more than seven decades,” the president said.

Economic and social contribution

Christodoulides said Shacolas had been one of Cyprus’ largest employers and had made a substantial contribution to the country’s economic growth and social progress.

He also highlighted Shacolas’ philanthropic work and public service, saying that he leaves behind a significant legacy of projects benefiting Cypriot society.

Condolences to the family

“On behalf of the government and personally, I express my sincere condolences to his family,” Christodoulides said.