Patel died in Pretoria South Africa where he had gone to seek medical treatment.
He had been admitted at Mediclinic in Sandton for three weeks before his death.
His Kishan confirmed the death of his father and said the body would be repatriated to Zambia on Thursday.
Radian Stores was one of the pioneers of consumer electronics goods that were supplied at affordable prices.
The firm also became a favourite with public service workers given their flexible payments terms for goods offered.