Tuesday, May 1, 2012


Africa's Wealthy Elite
In years to come, Africa's wealthy elite will continue to dominate the territories they command now - this is what their current fortunes tell us.
In many parts of Africa, personal wealth comes with great responsibility. Individuals who control a country's major industries are responsible for providing jobs for thousands of households, and generally influencing the territory's economy in a significant manner.
For these elite few - the men who are consistently ranked among the world's richest people - sustaining their substantial wealth is as demanding as the effort it required to create it in the first place. In the league of Africa's rich men, there is no such thing as small money, and also, there is no such thing as 'Once rich, always rich'.
We profile five of Africa's richest men and find out who is most likely to increase their fortunes over the next decade - and who will give the most back
Aliko Dangote - Nigeria
Dangote's wealth is currently pegged at around $10.1 billion, most of which was generated through investments in sugar, flour, and cement. The 54-year-old father of three is currently the continent's richest man, according to Forbes magazine.
His claim to fame as the 'Cement King' of Africa is inspired by his dominance of the cement trade in a number of Africa countries. Dangote currently owns cement plants in Zambia, Senegal, Tanzania, and South Africa, and has also received approval to build two more plants in Cameroon and the Ivory Coast.
Two years ago, Dangote Cement was listed on the Nigerian Stock Exchange, and that has since helped swell his fortunes further.
So how does the Dangote story go? There are tales of how he started off with a loan from his uncle, and from there went on to spearhead the growth of the Dangote Group.
Dangote is a committed philanthropist who continues to invest heavily in many social issues, including providing healthcare and access to quality education.
Dangote has demonstrated beyond measure that his wealth won't fade away - at least not in the next decade.
Theophilus Danjuma - Nigerian
Danjuma is thought to be worth about $600 million, largely derived from his holding in South Atlantic Petroleum (SAPETRO). Danjuma is one of the continent's richest men and with the rising price of oil, his fortunes increase every day.
Danjuma, the former Defense Minister of Nigeria, was ranked as the 21st richest man in Africa, according to Forbes. His charity trust, the TY Danjuma Foundation, continues to offer hope to thousands of households.
Currently, he advises the Nigerian government on official, state and government matters.
Cyril Ramaphosa - South Africa
Ramaphosa is a former National Union of Mineworkers activist, and is now thought to be worth in the region of $275 million, generated through a wide range of investments.
The 59-year-old owns the Shanduka Group, an investment holding company that has stakes in mining, banking, real estate, insurance, and telecoms, among others.
Ramaphosa is well-liked across the continent for his business acumen, which has and continues to be a template for many other business start-ups.
Mike Adenuga - Nigeria
Adenuga's wealth is estimated to be around $4.3 billion - but this figure has been debated by his aides. Adenuga amassed his substantial fortune through business interests in telecommunications, banking, and oil.
The 58-year-old is appreciated across the African continent for turning Globacom, his telecommunications holding company, into a global giant. Today, Globacom operates in four African countries, and is rated as one of the fastest growing multi-national carriers in the world.
Outwardly a calm and reserved individual, Adenuga is said to have had made his breakthrough in business by selling traditional clothes made of Nigerian lace. He is also said to have benefited under the regime of former Nigerian leader Ibrahim Babangida, who awarded Adenuga contracts to execute huge infrastructural projects.

No comments:

Post a Comment