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They run the continent! See the profile of top 55 African billionaires 2013

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They run the continent! See the profile of top 55 African billionaires 2013

 

Below is a detailed list of the top 10 Richest People in Africa 2013 as released by Ventures Africa.

The combined fortune of Africa’s 55 billionaires is $143.88 billion. The average net worth of the members of this exclusive club is $2.6 billion, while the median age of the richest people in Africa is 65 years. The oldest billionaires are Kenyan industrialist, Manu Chandaria, and Egyptian property tycoon, Mohammed Al-Fayed, both aged 84. The youngest billionaires are Mohammed Dewji of Tanzania and Igho Sanomi, a Nigerian oil trader. They are both 38 years old.

Nigeria, South Africa and Egypt lead the pack with the highest number of billionaires at 20, nine and eight respectively. Algeria, Angola, Zimbabwe and Swaziland only have one billionaire each. In all, there are 10 African countries represented on the list.

Three women made it into the rankings. The richest of them is Folorunsho Alakija, a Nigerian fashion designer and oil tycoon worth some $7.3 billion by our estimates.

Aliko Dangote
1. Aliko Dangote
$20.2 billion
Industry: Manufacturing
Country Of Citizenship: Nigeria
Age: 56
Marital Status: Married
Africa’s richest man started building his fortune three decades ago after taking a business loan from his maternal uncle to begin trading in commodities such as flour, sugar, rice and cement. In the early 2000s, he started producing these items himself. His Dangote Group is now the largest manufacturing conglomerate in West Africa and owns sugar refineries, salt processing facilities, a beverage manufacturer and a string of cement plants across Africa. In October 2012, Dangote sold a controlling stake in his flour milling company to Tiger Brands, a South African manufacturer of consumer goods. He pocketed $190 million from the sale. Dangote’s biggest asset is Dangote Cement, a $20-billion (market cap) cement manufacturer with operations in 14 countries and an annual production capacity of 30 million metric tonnes. In June this year, South Africa’s Public Investment Corporation acquired a 1.5-percent stake in the company for $290 million. Dangote is also Africa’s most generous philanthropist. Within the last 12 months, he has given away over $100 million to causes ranging from youth empowerment to flood relief, religious causes and education. His younger brother, Sani Dangote, is Vice Chairman of Dangote Group.

Allan Gray
2. Allan Gray
$8.5 billion
Industry: Financial services
Country Of Citizenship: South Africa
Age: 75
Marital Status: Married
This media-shy South African moneyman controls two investment companies that collectively manage over $50 billion in assets. After Gray received an MBA from Harvard, he worked for eight years at Fidelity Management and Research in Boston before returning to Cape Town in 1973, when he founded Allan Gray Limited, now the largest privately owned asset manager in South Africa. It is also the most successful with assets under management at approximately $30 billion. According to inside sources at the company, Allan Gray’s global mandate share portfolio has achieved an average annual return of 28 percent since 1974. Keys to success include rigorous research and the consistent application of Allan Gray’s ages-old and time-tested investment approach of buying heavily into companies whose share price is less than their intrinsic value. Gray is also the founder of Orbis, an asset manager in Bermuda, which he founded in 1989. Orbis has over $21 billion under management. Gray’s son, William, is President of Orbis and equally serves as portfolio manager of the Orbis Funds. Gray and his family are the controlling shareholders of Allan Gray Limited and Orbis. In 2007, Gray endowed his Allan Gray Orbis Foundation with $130 million, the single largest charity gift in Southern Africa at the time. The foundation funds scholarships for poor but promising South African high school students.

Mike Adenuga
3. Mike Adenuga
$8 billion
Industry: Oil, telecoms
Country Of Citizenship: Nigeria
Age: 60
Marital Status: Married
Nigeria’s second richest man made his first fortune in his mid-twenties by distributing lace fabrics and Coca- Cola, and by handling lucrative government contracts during the regime of former Nigerian military President, Ibrahim Babangida. In the early nineties he founded Conoil Producing, an indigenous oil exploration and production outfit that was the first Nigerian company to strike oil in commercial quantities. Today, Conoil Producing’s assets produce more than 100,000 barrels of crude a day. Adenuga’s other holdings include Globacom, a Nigerian mobile telecommunications network that boasts more than 25 million customers in Nigeria and Republic of Benin. He also owns a 74-percent stake in Conoil PLC, a petroleum marketing outfit listed on the Nigerian Stock Exchange.

Folorunsho Alakija
4. Folorunsho Alakija
$7.3 billion
Industry: Oil
Country Of Citizenship: Nigeria
Age: 62
Marital Status: Married
Africa’s richest woman sits atop Famfa Oil, a Nigerian oil company that owns a 60-percent stake in OML 127, one of Nigeria’s most prolific oil blocks located at Nigerian offshore Agbami deepwater field. Daily production at OML 127 stands at over 200,000 barrels per day. Alakija studied fashion design in England in the eighties, returning to Nigeria to found Supreme Stitches, a Nigerian fashion label which enjoyed patronage from the more successful women in Nigerian high society. One of her clients was Maryam Babangida, the wife to former Nigerian military President, Ibrahim Babangida. Alakija is believed to have ridden on the crest of this relationship to acquire an oil block in 1993 at a relatively inexpensive price. Famfa immediately entered into a joint venture agreement with Star Deep Water Petroleum (a subsidiary of Chevron and Brazil’s Petrobas), ceding a 40-percent stake to the two companies. Famfa owned a 60-percent interest in the block until 2000, when the incumbent Nigerian president, Olusegun Obasanjo, forcefully acquired a 50-percent stake in the block, transferring it to the Nigerian National Petroleum Corporation – a government-owned oil company. Famfa Oil immediately went to court to challenge the acquisition in a case that dragged on for 12 years. In May 2013, the Nigerian Supreme court reinstated the 50-percent stake to Famfa Oil. Alakija also owns $200-million of real estate in the United Kingdom.

Nicky Oppenheimer
5. Nicky Oppenheimer
$6.5 billion
Industry: Mining, investments
Country Of Citizenship: South Africa
Age: 68
Marital Status: Married
Diamonds are not forever. In November 2011, Nicky Oppenheimer made the momentous decision to sell off his family’s stake in De Beers, the world’s largest diamond producer, to mining behemoth Anglo American. The landmark $5.1-billion deal ended the Oppenheimer family’s eight-decade control of De Beers, which began when Nicky’s grandfather, Sir Ernest Oppenheimer, took over the firm in 1927 and consolidated the company’s global monopoly over the world’s diamond industry. In 2011, E Oppenheimer & Sons, the family-owned investment firm which Nicky controls, partnered with Temasek, the investment firm of the Government of Singapore, to form Tana Africa Capital, a $300-million private equity fund that invests in the fast moving consumer goods (FMCG) and agriculture sectors.

Johann Rupert
6. Johann Rupert
$6.1 billion
Industry: Luxury goods and retail
Country Of Citizenship: South Africa
Age: 63
Marital Status: Married
Johann Rupert is the chairman of Swiss-based luxury goods company, Compagnie Financière Richemont SA, which owns premium brands such as Cartier, Dunhill, IWC Schaffhausen, Piaget and Vacheron Constantin, among many others. It is the sixth largest company on the Swiss stock exchange and the third largest luxury goods company in the world. Johann’s father, Anton Rupert, founded a small cigarette manufacturing operation, Rembrandt, in his garage in 1941 with a £10-investment. Rembrandt became incredibly popular among young South African smokers and by the 1950s, was already one of the leading tobacco firms in the continent. Anton, ever the visionary, diversified from tobacco into the industrial and luxury branded goods sectors, splitting Rembrandt into two divisions: Remgro (an investment company with financial, mining and industrial interests) and Richemont (the Swiss-based luxury goods group). Johann is chairman and the largest individual shareholder in both companies. He also owns two of South Africa’s best-known vineyards, Rupert & Rothschild and L’Ormarins, and founded the Franschhoek Motor Museum, which houses his personal collection of over 200 antique motor vehicles.

Nassef Sawiris
7. Nassef Sawiris
$5.2 billion
Industry: Construction
Country Of Citizenship: Egypt
Age: 53
Marital Status: Married
Nassef Sawiris is the youngest of the three sons of Egyptian billionaire and founder of the Orascom conglomerate, Onsi Sawiris. He heads Orascom Construction Industries (OCI), one of the largest companies in the North Africa region. In January this year, Nassef announced that OCI was exchanging all global depositary receipts of the company for newly issued shares of OCI NV on the NYSE Euronext in Amsterdam or in exchange for cash. A consortium of investors, including Microsoft founder Bill Gates, provided the $1 billion in fresh capital required to pay off investors. The overwhelming majority of the shareholders accepted the buyout offer, which subsequently led to the company’s delisting on the EGX. Nassef also serves as a director at Lafarge, the French cement giant, and the Dubai international Financial Exchange.

Gilbert Chagoury & Family
8. Gilbert Chagoury & Family
$4.2 billion
Industry: Construction
Country Of Citizenship: Nigeria
Age: 67
Marital Status: Married
The Nigerian-Lebanese industrialist and diplomat is a co-founder of the Chagoury Group, a large, multi-faceted Nigerian conglomerate with interests in manufacturing, construction, real estate, hospitality and healthcare. Gilbert was born in 1946 in Lagos by Lebanese immigrant parents. After studying at the College des Freres Chretiens in Lebanon, he returned to Nigeria where he kick-started his business career. In 1971 he started GrandsMoulins du Bénin Flour Mills, a milling company in Cottonou, Republic of Benin, which formed the foundation of the Chagoury Group. Today, the Chagoury Group owns five flour-milling companies in Nigeria and Republic of Benin. Chagoury’s milling operations collectively produce over 3,700 metric tonnes of wheat flour every day. The Chagoury Group also owns a glass bottle manufacturing plant and a plastic bottle manufacturing operation. Other assets include Eko Hotel, a five-star Hotel in Lagos, and Hotel Presidential, a five-star hotel in Port Harcourt. One of the newer companies within the group is South EnergyX, a real estate development company that is developing Eko Atlantic, a new $6-billion metropolis on land reclaimed from the Atlantic Ocean. When completed, Eko Atlantic is expected to provide residential accommodation for up to 250,000 people. Chagoury’s property portfolio also includes Ocean Parade, a series of 14 tower blocks overlooking a lagoon in Banana Island, Nigeria’s priciest residential community. Gilbert Chagoury’s career has not been without controversy. In 2001, in a British court, he admitted to helping the family of deceased Nigerian dictator, Sani Abacha, transfer $300 million into foreign accounts. He returned the money and was indemnified of charges.

Nathan Kirsh
9. Nathan Kirsh
$3.6 billion
Industry: Real Estate, Distribution
Country Of Citizenship: Swaziland
Age: 82
Marital Status: Married
Nathan Kirsh made his first fortune after he founded a successful corn milling business in Swaziland. He deftly reinvested his profits in food distribution and real estate. The bulk of his fortune is held in various property and distribution companies. His investment company, Kirsh Holding Group, owns a 50-percent stake in Swazi Plaza Properties – the company that owns the largest shopping mall in Swaziland. He also owns a 29-percent stake in Minerva, a London-based property developer, and a 63-percent stake in Jetro Holdings, which operates Jetro Cash and Carry stores and Restaurant Depots in the New York City area. Jetro enjoys a near monopoly in supplying wholesale goods to small stores and restaurants in the New York City area and had revenues of over $6 billion in 2013. Kirsh is also the largest individual shareholder in Magal Security Systems, a developer and supplier of control systems and intruder detection systems.

Christoffel Wiese
10. Christoffel Wiese
$3.4 billion
Industry: Retail
Country Of Citizenship: South Africa
Age: 72
Marital Status: Married
The South African businessman is the chairman and greatest individual shareholder of Shoprite, Africa’s largest discount retailer. After studying Law at the University of Stellenbosch, Wiese took up a job as an executive director at Pep Stores, a discount clothing chain his parents co-founded. In 1979, Pep Stores diversified into groceries through its acquisition of Shoprite, a small South African retail chain. When Wiese became chairman of the company in 1981, he changed the company’s name to Pepkor and made a series of acquisitions including Ackermans, a prominent clothing chain. He went on to list Shoprite on the Johannesburg Stock Exchange. He owns a 15-percent stake in the $7-billion (market cap) company. While his Shoprite stake remains his biggest asset, he also owns significant stakes in other Johannesburg Stock Exchange-listed companies, including Invicta Holdings, PSG Holdings, Tradehold, and private equity firm, Brait. Other assets include a private game reserve in the Kalahari and Lourensford Wine Estate.

Full list here Ventures Africa.

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DSS finally speaks up on continued detention of Omoyele Sowore

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Omoyele Sowore in court

The Department of State Service has finally spoken up on the continued detention of the convener of the #RevolutionNow protests, Mr. Omoyele Sowore.

Addressing a news conference in Abuja on Tuesday, the spokesman for the Service, Mr. Peter Afunanya, insisted that the appropriate persons have not come for his release.

He claimed that personnel of the service were being threatened and despite that, the DSS has continued to hold the rights of citizens in high standard.

The DSS spokesman explained that those who came for Sowore’s release were protesters and administrative procedures must be followed for him to be released.

He stressed that only the persons who stood as sureties for Sowore can secure his release from the DSS custody.

Sowore has remained in the custody of the Service, weeks after a Federal High Court in Abuja granted him bail along with his co-defendant, Mr. Olawale Bakare, with some conditions.

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Another tanker carrying kerosene has fallen in Onitsha

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Tanker in Onitsha

Another tanker has fallen at Tarzan area, along Owerri/Onitsha expressway, in Onitsha, Anambra State on Tuesday.

The tanker was loaded with kerosene reports and it would be the tenth tanker to fall around Anambra State, within a space of two months.

In October, two tankers ladened with petroleum products fell in Onitsha, causing loss of lives, wares belonging to traders, houses and cars parked in automobile mechanic workshops.

Tuesday’s incident happened at about 10 am, which showed that the driver defied a previous order given by the state government which banned tankers from carrying petroleum products in the state at day.

The state police command’s public relations officer, SP Haruna Mohammed confirmed the incident, saying that men from the command were on ground to forestall any outbreak of fire.

Governor Willie Obiano, while placing a ban on the movement of Petrol laden tankers a month ago had called on security agencies, including the police to strictly enforce the ban.

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Pastor arrested with coffin, female underwear in Enugu

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Enugu pastor

A self-acclaimed pastor, Sunday Egbo has been arrested by the Enugu State Police Command and paraded after a small coffin, multiple female pants and braziers were recovered from his house.

Samuel is the General Overseer and founder of Christ Mercy Ministry, Ajuonu, Obukpa, Nsukka Local Government Area of Enugu State.

The end came for the said pastor after he allegedly raped a female member who had come for prayers.

The development led to his arrest and subsequent recovery of the items.

He told journalists that he procured the coffin and other items from a native doctor in Kogi State, with the hope of making money and attracting favour.

While admitting to raping the female member, the pastor said, “I paid the native doctor N200,000, to get the coffin and the flute. He told me to do certain things, after which I will get a Ghana-Must-Go bag full of money in my room.

“But after two weeks, the money did not come as the native doctor told me.”

He left advice for other men of God.

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10 corpses get burnt in fire outbreak at OAU morgue

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corpses in oau morgue

It is double wahala for dead body as ten corpses were burnt in a fire outbreak that occurred at the morgue of the Anatomy Department, Obafemi Awolowo University, Ile Ife, Osun State today November 19th.

The corpses were being used by the students of the department for their practicals were kept in the OAU morgue.

 

Confirming the incident, the spokesperson for Osun Police Command, Folasade Odoro, said no life was lost in the incident.  She added that the cause of the fire is being investigated.

 

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62 year old man sentenced for drug trafficking in Lagos

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Man in prison for drug trafficking

A Federal High Court in Lagos has sentenced a 62-year-old man, Nurudeen Aremu, to nine years in jail for drug trafficking in cocaine.

Aremu was charged by the National Drug Law Enforcement Agency (NDLEA) on three counts bordering on conspiracy and drug trafficking.

Aremu was first arraigned on March 7, and he pleaded not guilty. However, on Nov. 14, he opted to change his plea and was subsequently re-arraigned. On his re-arraignment, he admitted guilt.

On Nov. 15, the Prosecution counsel, Mrs Juliana Iroabuchi, tendered nine exhibits which were all admitted.

Justice Onyetenu found Aremu guilty of the offence and sentenced him to four years imprisonment on count one, three years’ imprisonment on count two and two years jail term on count three.

Earlier, the prosecution counsel said that Aremu committed the offences on Dec. 27, 2018.

She said that he was arrested at the Gate C, Departure Hall of the Murtala Mohammed International Airport, Ikeja, during an outward clearance of passengers on board an Ethiopian Airline flight to India.

Iroabuchi said that Aremu concealed 2.66kg of cocaine in a brown travelling bag.

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“I am not owing workers”, Yahaya Bello claims after election victory

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Yahaya Bello

Newly elected Kogi state governor, Yahaya Bello, on Tuesday, rubbished claims that he was owing salaries, stressing that such were “lies.”

Bello said his administration met salary backlog owed workers in the state, but insisted that his administration was not owing workers.

The governor-elect, who said this while featuring on Channels Television, also alleged that thugs of the Peoples Democratic Party, PDP, stabbed a resident after he was declared the winner of Saturday’s election.

Bello also alleged that the wife of his deputy was also shot after he emerged winner of the election.

He said:

“All these reports of me owing salaries are lies. Past governors of Kogi State were owning salaries starting from Audu to my immediate predecessor. Kogi state is not owning any dime at the state level, what is left is the ten percent from the previous government.

“As for El-Rufai kneeling, he was begging that Kogi people should forgive Bello for ensuring security and ensuring the state was peaceful and not because he could not pay salaries.”

 

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FUTA suspends 6 over viral assault video

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FUTA

6 Students of the Federal University Of Technology Akure (FUTA), Ondo State who were involved in assaulting a fellow student have been indefinitely suspended.

The incident which was captured in a viral video showed the victim get beaten up and injured by her attackers in a private hostel.

Confirming the development, the Dean of Students’ Affairs of the University, Prof. Gbenga Onibi disclosed that since the video went viral, the authorities have been working to identify the attackers and achieved success through the cooperation of the students.

“It came as a shock and no one is happy about it, we saw the trending video and we were contacted; since then the university has been working to get all those involved.

“We were lucky enough while working on that and realised that the students were unease because they were not happy at the act. They tried to locate the assaulters; luckily we have been able to identify six of them, even the cameraman that shot the video.”

 

He added that the University has a zero-tolerance for such activities and the students have been immediately suspended.

 

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Court of Appeal upholds Taraba Governor’s election

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Taraba Governor Darius Ishaku

The Court of Appeal has affirmed Mr Darius Ishaku of the People’s Democratic Party (PDP), as the duly elected Governor of Taraba state.

A five-man panel of the court that sat in Abuja led by Justice Chidi Uwa held that the current Taraba governor was duly elected.

The court held that the All Progressive Congress (APC) had no candidate in the March 9, 2019 governorship election in Taraba state, by virtue of the disqualification of Mr Abubakar Danladi, by a Federal High Court in Jalingo on the 6th of March 2019.

 

The Taraba State Governorship Election Petition Tribunal had on the 20th of September 2019, delivered a judgment that Mr Danladi was not qualified to contest the 2019 election.

The appellants failed to prove their claims that the election was marred by irregularities and failure to comply with the electoral act. It dismissed the appeal for lacking merit.

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Archbishop of Canterbury replies SERAP’s letter on Sowore

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Archbishop of Canterbury

The Archbishop of Canterbury, Most Revd Justin Portal Welby has responded to an open letter by Socio-Economic Rights and Accountability Project, (SERAP) concerning the continued detention of Omoyele Sowore and Olawale Bakare

SERAP had urged him to use his good offices and friendship with President Muhammadu Buhari to prevail on him to obey court orders most recently involving activists who had remained in arbitrary detention despite a court order for their release.

This development was disclosed in a statement on Tuesday by SERAP deputy director Kolawole Oluwadare.

Responding on behalf of the Archbishop of Canterbury through an email last night, Dominic Goodall, the Chief Correspondence Officer at the Lambeth Palace, said:

Goodall’s email read in part:

“Thank you for taking the time to share your comments and concerns on this matter, which have been noted. Please be assured that I will communicate your concerns to the Archbishop and his staff team so that they are aware of your concerns. Thank you again for taking the time to write.

“We are very delighted that our letter and the concerns that it raises have caught the attention of the Archbishop. Given his public record for justice and human rights, we have absolutely no doubt that he will prevail on President Buhari to obey not just the court order for the release of Sowore and Bakare but all court orders.

“But it should never have reached this level, as the government ought to have obeyed court orders as a matter of routine”

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“Nigerians deserve Buhari”- Reno Omokri, speaks on Kogi Election

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Reno Omokri

Reno Omokri, a former aide to ex-president to Goodluck Jonathan claims Nigerian deserve the leadership of President Buhari. He also gave reasons why he has been silent on the outcome of the Kogi election.

Omokri took to Twitter on Monday to announce that his silence was as a result of the attitude of Nigerians towards him and the likes of Femi Fani-Kayode and Dino Melaye.

Describing Nigerians as being ungrateful, the former presidential spokesman further announced that henceforth he will stop criticizing President Muhammadu Buhari’s government and concentrate on evangelism.

According to him, Nigerians deserved the Buhari-led government.

Omokri on his Twitter page wrote

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