Connect with us

Lifestyle

African Vibes Magazine’s Billionaires of 2018

Published

on

When it comes to African Billionaires, there are some usual suspects that make the list every year. Unfortunately, 2018 closed on a very bumpy note in the equities market and for many billionaires, this among other things resulted in some considerable loses in fortunes and some billionaires dropping off the list altogether.

The list dropped by 7 from 31 African billionaires to 24. A few billionaires still managed to grow their fortunes. Most Notably Nigeria’s Mike Adenugu who grew his fortunate the most with a 3.2 billion increase over his 2017 fortune.

Folorunsho Alakija remained Africa’s richest woman, Mohammed Dewji is still Africa’s youngest billionaire, Mike Adenuga grew his fortune the most and South Africa’s Elon Musk maintained the number one spot as the richest African on the list.

African Countries represented on the Billionaire list

By the end of 2018, South Africa had dropped 5 billionares from the previous year. They closed with 6 billionaires, same as Egypt which dropped 2 billionaires from its 2017 list.

Nigeria maintained its 3 billionaires while last year’s newcomer from Zimbabawe still held his own. Ethiopia’s The other countries represented are Angola, Algeria, Ethiopia, Sudan, Swaziland and Zimbabwe with their first Billionaire.

African Billionaire Age Distribution

There are 3 billionaires in their forties, 5 in their fifties, 7 in their sixties, 6 in their seventies and 3 in their eighties. Africa’s youngest Billionaire is still Mohammed Dewji from Tanzania at Age 42.

Methodology

The African Billionaires list is a snapshot of wealth taken on January 1, 2018. It isbasedonthe Forbes Real time billionaire wealth calculator. The calculation is derived from stock prices and exchange rates from around the world used to calculate net worths. Some fortunes change from day to day due to fluctuations in the market.

The list is based on individuals rather than multigenerational families who share large fortunes, though included is wealth belonging to a billionaire’s spouse and children if the current list member is the founder of the fortune. In that case you’ll see “& family” on the list. Also included are married couples who built fortunes and businesses together. 

It was an interesting year for African billionaires as some fortunes shrunk and others grew. So let’s look at who is left on the list and how they did in spite of the rough year end.

PictureAfrica RankForbes RankNameNet WorthAgeWealth SourceHometown / Residence
1#35Elon Musk$21.9 B47Tesla MotorsSouth Africa / United States
2#125Aliko Dangote$10.5 B61Self Made, cement, sugar, flourNigeria
3#149Mike Adenuga$8.7B65Telecom, OilNigeria
4#180Nicky Oppenheimer$7.6 B73DiamondsSouth Africa
5#217Patrick Soon-Shiong$6.6 B66PharmaceuticalsSouth Africa / United States
6#240Nassef Sawiris$6 B57Construction, ChemicalsEgypt
7#316Johann Rupert$5.2 B68Luxury goodsSouth Africa
8#413Nathan Kirsh$4.4 B86Retail, Real estateSwaziland
9#519Issad Rebrab$3.8 B75FoodAlgeria
10#572Naguib Sawiris$3.5 B64TelecomEgypt
11#758Haim Saban$2.8 B73TV network, InvestmentsEgypt / United States
12#955Strive Masiyiwa$2.3 B58TelecomZimbabwe
13#958Koos Bekker$2.3 B66Media, InvestmentsSouth Africa
14#964Mohamed Mansour$2.3 B70DiversifiedEgypt
15#1033Isabel dos Santos$2.2 B45InvestmentsAngola
17#1107Aziz Akhannouch$2 B58Petroleum, DiversifiedMorocco
16#1110Patrice Motsepe$2 B56MiningSouth Africa
18#1317Othman Benjelloun$1.7 B86Banking, InsuranceMorocco
19#1387Folorunsho Alakija$1.6 B68OilNigeria
20#1405Mohamed Al Fayed$1.6 B89Retail, InvestmentsEgypt
21#1441Mohammed Dewji$1.5 B43DiversifiedTanzania
22#1463Yasseen Mansour$1.5 B57DiversifiedEgypt
23#1783Mohammed Ibrahim$1.2 B72CommunicationsSudan / United Kingdom
24#1786Youssef Mansour$1.2 B73Self Made, diversifiedEgypt

Facebook Comments

Continue Reading
Advertisement
Click to comment

Leave a Reply

Beauty

Miss Algeria 2019 Is Black, Racist Trolls Are Attacking Her But She Won’t Back Down

Published

on

The newly crowned winner of Miss Algeria beauty pageant has hit back at critics who have hurled racial abuse at her because of her skin color.

“I will not back down because of the people who criticised me,” Khadija Ben Hamou told Algerian news site TSA.

Slurs about her dark skin colour, nose and lips have been made on Facebook and Twitter.

ALSO READ: Tunisia Becomes Second African Country And First Arab Nation To Outlaw Racism. Here Is What Will Happen If You Break The Law

Darker-skinned Algerians face discrimination in the North African state.

Ms Ben Hamou, who comes from the southern Adrar region, said that she was proud of her identity and winning the competition.

“I am honoured that I have achieved my dream, and I am honoured by the state of Adrar where I come from,” she said.

Continue Reading

Travel

RwandAir Expands its Flight Destinations to Ethiopia

Published

on

RwandAir has announced that it will commence flights to Addis Ababa, the capital city of Ethiopia, in April 2019.

The Rwanda national carrier will operate five weekly direct flights from Kigali to Addis Ababa with a CRJ-900NG aircraft.

ALSO READ: Rwanda Officially Joins Africa50 to Boost Infrastructure

“As an expanding young airline, it is imperative for us to fly to Addis Ababa Bole International airport as it is one of the important hubs in Africa” said RwandAir’s chief executive Yvonne Manzi Makolo.

READ MORE HERE >>

Facebook Comments

Continue Reading

Business and Development

5 Ideas for Online Investing in Africa

Published

on

It’s nice to have a little bit of money in savings. It’s even better when you can invest that money and watch it grow over time. Given modern technology, investing is now easier than ever. Are you interested in online investing in Africa but don’t know where to start? Here’s a rundown of 5 ways you can invest your money and enjoy strong returns.

1. Stocks

Stocks are the traditional investment vehicle. When you buy stock, you’re buying a small portion of a large company, and your investment rises or falls based on the fortunes of that company. It’s often smart to invest in so-called “index funds,” which include many different stocks to minimize risk. Finding an online platform for investing is a little bit trickier. You’ll need to find an online investment portal that services your specific country. For example, if you live in Kenya, you can buy and sell stock on the Nairobi Securities Exchange through firms like Apex Africa Capital. Here’s a look at the largest stock exchanges on the continent:
  1. Johannesburg Stock Exchange in South Africa (JSE)
  2. Nigerian Stock Exchange in Nigeria (NSE)
  3. Egyptian Stock Exchange in Egypt (EGX)
  4. Casablanca Stock Exchange in Morrocco (CSE)
  5. Namibian Stock Exchange in Namibia (NSX)
You just need to search for a firm that allows online trading for the stock market in your country.

2. Foreign Exchange

Trading foreign exchange (or “forex,” as it’s called) is simpler in some way than trading stocks and more complicated in other ways. It’s simpler in that there’s no regulated exchange, so you can trade forex from anywhere in the world using just your computer. But, forex is the most liquid market in the world with prices changing each minute, which makes it much more difficult for new investors. Because there is no regulated exchange for forex, there are fewer limitations on finding a broker online. Just make sure you read reviews before choosing a trading platform.

3. Real Estate

You can invest in real estate without purchasing your own rental property. Services like Realty Africa take online investments from around the world and then use them to fund hotels, factories, eco-lodges and other real estate projects. As those projects turn a profit, you get a cut of the profit in proportion to your investment. If you do want to purchase your own rental property, there are plenty of sites and services that will deliver options for you to consider. Angola, Nigeria, Egypt, Mozambique, Kenya and South Africa are among the countries that offer the best real estate investment opportunities.

4. Cryptocurrency

Cryptocurrency is digital currency that is created and traded outside the purview of a central bank, as more traditional currency is created and traded. Popular types of cryptocurrency include Bitcoin and Ethereum, and they can be traded via web-based platforms like BitPesa in Kenya and Luno in South Africa. Crytocurrency is relatively new, and the prices of various forms of cryptocurrency can be volatile. Be careful as you enter this type of investment, and be sure to do plenty of research first.

5. Micro Loans

If you want to invest your money and do something good at the same time, consider micro loans. Services like Zidisha connect investors to borrowers in developing countries who need relatively small amounts of money for key investments. Sometimes borrowers need inventory for their stores, and sometimes they need equipment to provide a service. Platforms like Oiko Credit allow you to make your money available to others while earning interest. It’s harder to enjoy significant returns with micro loans, but there is something fulfilling about seeing your money go to work in a meaningful way.

Always Do Your Research

Before you invest, always do your research. There’s both risk and reward with investing. Your goal should be to minimize your risk while maximizing your reward through whatever legal means you can.

Facebook Comments

Continue Reading
Advertisement

Popular Posts