MeTL Group CEO Hon.Mohammed Dewji.
Africa boasts 55 billionaires from 10 countries
Africa, the world’s fastest growing emerging market, is now home to 55 billionaires, with an average net worth of $2.6bn.
By Rebecca Burn-Callander, Enterprise Editor - The Telegraph
Africa
is now home to 55 billionaires, up from previous estimates of 16-25
billionaires, new research has found. These super rich are worth a
combined total of $143.88bn (£89.27bn).
The UK, in contrast, is home to 84 billionaires, worth a nearly £250bn, according to the 2013 Sunday Times Rich List.
With
55 billionaires, Africa is comparable to Latin America, which has 51 at
last count (Forbes). However, Africa has some way to go if it's to top
the super-rich tally in Asia, which is home to 399 billionaires as of
2013.
The
new study, undertaken by African business magazine and news service
Ventures Africa, is the most extensive list ever compiled, claims
founder Chi-Chi Okonjo. It reveals the “true wealth” of Africa’s richest
people, he said. The richest man in Africa is
cement, sugar and flour tycoon Aliko Dangote. The Nigerian is worth
$20.2bn. This figure is slightly up on Forbes’ estimation of $16.1bn for
his wealth as of March this year.
In second place, South African financier Allan Gray holds assets worth at least $8.5bn.
Third on the list, Nigerian Mike Adenuga, with operations in the oil and telecoms industries, has an estimated fortune of $8bn.
Africa’s wealthiest woman, Nigerian oil tycoon Folorunsho Alakija, is worth $7.3bn.
The
median age of Africa’s billionaires stands at 65 years old, with the
youngest billionaires both at 38. These young guns are Tanzanian
Mohammed Dewji, head of the largest textile manufacturer in sub-Saharan
Africa, and Nigerian oil trader Igho Sanomi.
The
oldest billionaires are Manu Chandaria, a Kenyan industrialist, and
Mohammed Al-Fayed, the Egyptian property tycoon and Harrods boss, who
are both 84. Nigeria, South Africa and Egypt
have the most billionaires with 20, nine and eight respectively. In
total ten African countries are represented on the list.
According
to Ventures Africa, there are a large number of African billionaires on
its list whose fortunes have never been accurately calculated before
including: Strive Masiyiwa (Zimbabwe, $1.46 billion); Abdulsamad Rabiu
(Nigeria, $1.4 billion); Aziz Akhannouch (Morocco, $1.39 billion); Jide
Omokore (Nigeria, $1.32 billion); and Bode Akindele (Nigeria, $1.19
billion).
“This list is a tribute to the entrepreneurial heartbeat within Africa,” said Mr Okonjo.
The
report credits the surge in energy prices over the last decade for the
increase in billionaires. The price of oil topped $100 a barrel this
year, up from $20 a barrel in early 2000. The
list was been compiled using financial reports, by tracking equity
holdings around stock markets and identifying specific shareholding
structures in large, privately-held companies. The results have been
corroborated with investment bankers, realtors and financial analysts to
determine proper values for companies, real estate and other assets,
such as art collections, jets, yachts and jewellery.
