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Africa’s Wealthiest Five are Over 4 Times Bigger Than Rwanda’s Economy

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Bloomberg Billionaires’ Index has placed Nigeria’s Aliko Dangote as the only African in its top 100 ranking.

According to ranking as at Friday, the fortune of Africa’s five wealthiest people ($42bn or N13trn at N306/$) is similar to the entire market capitalisation of the Nigerian Stock Exchange (NSE).

Aliko Dangote $16.3bn

Fun fact: At N306/$, Dangote’s wealth is equivalent to 7 percent of Nigeria’s economy in 2018.

Dangote is doubtless Africa’s richest person and 77th in the world. The 62 year old is the only African to feature in the top 100 on Bloomberg’s big money list.

The self-made billionaire is the owner of the Dangote Group which owns Dangote Cement, the biggest cement producer in sub-Saharan. Although Dangote has other businesses in sugar, salt, flour, fertilizer and packaged food. Dangote’s cement business is the worth N3 trillion on the Nigerian Stock Exchange (NSE).

Dangote is currently building a refinery capable of producing 650,000 barrels of crude per day. The facility is situated in Lagos and would be the biggest Refinery, taking over from South Africa’s Sapref Refinery upon completion.

Johann Rupert $7.34bn

Fun fact: Rupert’s wealth can buy 137 million barrels of crude oil.

Rupert is the second richest African and 221 in the world. He is 69 and built his wealth by investing in businesses across different industries. Rupert inherited his wealth, he is the eldest of business typhoon Anthony Rupert.

The South African’s biggest asset is the Cie. Financiere Richemont, the world’s largest luxury watchmaker, which he controls the through a family trust. He chairs the board of CFR as well as Remgro, South-African based investment holding firm.

Nicholas Oppenheimer $7.08bn

Fun fact: At 306/$, Nicky would have to pay N30,000 to 72.22 million Nigerians to exhaust his wealth

Nicky, as fondly called, is Africa’s third and world’s 232th wealthiest man whose fortune came majorly from diamond.

The 74 year old was formerly the chairman of De Beers Diamond Company and subsidiary, the Diamond Trading Company, and former deputy chairman of Anglo American. His family, the Oppenheimer, are one of the richest in South Africa.

Nicky, the heir to his family’s fortune sold his 40 percent stake in diamond firm DeBeers to a mining group Anglo American for $5.1 billion cash in 2012.

Natie Kirsh $6.22bn

Fun fact: At 306/$, Kirsh can create 1.9 million Nigerian millionaires

Nathan Kirsh, 87, is a self-made South African/Swazi business magnate. He heads the Kirsh Group, which holds a majority stake in New York cash and carry operation Jetro Holdings.

The Group holds equity and investments in Australia, Swaziland, United Kingdom, United States and Israel.

Natie, 283rd richest person globally, founded his corn milling business in Swaziland, and expanded into food business after apartheid in South Africa. He acquired wholesale food operations in 1970, and transformed it as a cash and carry business that makes it as the country’s black-owned local grocery stores.

He later expanded his ventures to real estate, and sold 49 percent of the conglomerate to insurance firm, Sanlam, which has about 90 Restaurant Depot and 10 Jetro Cash and Carry stores.

Naguib Sawiris $5.20bn

Fun fact: At 306/$, Sawiris’ wealth is more than the combined current market value of Nigeria’s two biggest lenders

Naguib, the Egyptian billionaire mogul is fifth wealthiest in Africa and 362nd in the world. He chairs the Board of Wind Telecom, a telecommunication firm headquartered in Amsterdam, Netherlands.

Since joining Orascom, his family business in 1979, Sawaris has contributed to the growth and diversification of the company into what it is today as Egypt’s largest and most diversified conglomerates and the country’s largest private sector employer.

The business magnate built the railway, information technology and telecommunication sectors of Orascom. He also led the acquisition of La Mancha Resources Inc through a tender offer launched by Weather Investments II.

The company is an international gold producer based in Canada with operations, development projects and exploration activities in Africa, Australia and Argentina.

Source: businessdayng

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