Ventures Magazine Identifies 55 Billionaires In Africa, And 20 Are Nigerians!

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A Nigerian-based financial magazine, Ventures
financial magazine has made an updated list of
the billionaires in Africa, bringing the count to a
current 55.
They include three women – the mother of
Kenya’s president, a daughter of Angola’s
president and a Nigerian oil tycoon and fashion
designer.
The richest man is Nigeria’s Aliko Dangote, with
a fortune of $20.2bn (£12.5bn), Ventures said.
The list is likely to reignite debate about
inequality between rich and poor people in
Africa, correspondents say.
In April, the World Bank said the number of
people living in extreme poverty in Africa had
risen in the past three decades from 205 million
to 414 million.
The 55 billionaires it has identified are more
numerous than the 16 listed by US financial
magazine Forbes last year.
It was able to identify dozens more billionaires
by using “on-the-ground knowledge” to
overcome hurdles that may have “hampered”
other researchers, Ventures said.
The magazine estimated the 55 billionaires’
combined fortunes at $143.88bn, an average of
a $2.6bn per person.
Of the 55, 20 are Nigerian, 9 are South
African and 8 are Egyptian.
The richest woman is Nigeria’s Folorunsho
Alakija, who made her $7.3bn fortune mainly in
the country’s oil industry, while
Isabel Dos Santos, an Angolan investor and the
eldest daughter of Angolan President Jose
Eduardo dos Santos, together with Ngina
Kenyatta, the mother of Kenya’s President
Uhuru Kenyatta, also made the cut.
Ventures listed Harvard-trained businessman
Allan Gray as South Africa’s richest man, with a
fortune of $8.5bn.
“This media-shy South African moneyman
controls two investment companies that
collectively manage over $50bn in assets,”
Ventures said.
Nathan Kirsh, a property tycoon in the tiny
kingdom of Swaziland, also made it on the list.
He is worth $3.6bn, and has business interests
in London and New York, Ventures said.
Ventures editor-in-chief Oozo Eewala told the
BBC’s Focus on Africa radio programme that its
estimate of 50 billionaires was probably
conservative.
“There is this culture where people don’t necessarily
want to show their wealth, considering the gap
between the rich and poor,” he said.
“If you have a lot of money, there are a lot of
people that you have to support so we think
people may be a little reluctant to be all splashy
about what they have and what their assets
are.”

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