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Finance

The 16 Richest People In Africa (part 1)

Africa is a developing continent with an increasing intense economic activity, the African economy is seeing much progress and analysts predict that with a nominal GDP of US $ 2.9 trillion, there will be miraculous progress in Africa in the coming decades, nevertheless by 2050, Africa’s GDP is expected to exceed US $ 29 trillion.However, the wealth of African billionaires has increased by more than 12% taking a closer look at their economic involvement on the African continent. These billionaires have geared their energies in industries with much prospect for Africa such as automobile manufacturing, oil production, real estate development, telecommunications, and luxury goods.

As the African economy recovers, the wealth of these brave people will further increase. Taking a critical look at how these top 16 rich people attained their billionaire status, this article furnishes you with all you need to know starting from the bottom.

#Othman Benjelloun

Country: Morocco

Age: 88

Othman Benjelloun is the CEO of BMCE (Bank of Foreign Trade of Morocco), which operates in more than 20 African countries, this serves as his main source of wealth. Othman’s father had a stake in the Moroccan insurance company RMA, which Benjelloun turned into the country’s leading insurance company. Ottoman also has shares in the Moroccan branch of the French telecommunications company Orange through its investment firm FinanceCom. FinanceCom is also part of the multi-million dollar project of the City of Science and Technology in Tangier, Morocco. Othman Benjelloun also serves as the honorary trustee of CSIS (Strategic Center).

#Yasseen Mansour

Net worth: $1.1 billion

Age: 60

Country: Egypt

Like his brothers Yusuf and Mohammed, Yasseen owns shares in the family business Mansour Group, which is GM’s largest auto disruptor in Egypt. He is also the President of Palm Hills Developments, one of Egypt’s largest real estate developer

#Youssef Mansour

Net worth: US$1.5 billion

Age: 75

Country: Egypt

Like his brothers Mohamed and Yasseen, Youssef owns shares in the family business group Mansour Group, which is General Motors’ largest dealer in Egypt. Yusuf works for the company and is the head of its consumer department.

#Muhammad Dewji

Country: Tanzania

Net worth: $1.6 billion (2021)

Age: 45

Mohammed Dewji is the CEO of METL (Mohammad Enterprises Tanzania Limited), a Tanzanian conglomerate founded by his father in the 1970s. Dewji first made headlines when he was kidnapped in Darussalam, Tanzania in October 2018, but he was released nine days later. METL is engaged in the manufacture of textiles, flour processing, beverages and edible oils in Eastern, Southern and Central Africa. METL operates in six African countries and plans to expand to more countries. Dewji is the only billionaire in Tanzania. He signed the pledge oath in 2016, promising to donate at least half of his wealth to charity.

#Aziz Akhannouch

Country: Morocco

Net worth: $ 2 billion (2021)

Age: 60

Aziz Akhannouch is Morocco’s Minister of Agriculture and Fisheries and the largest shareholder in Akwa Group, a multi-million dollar conglomerate founded by his father in 1932. Through the listed Afriquia Gaz and Maghreb Oxygene, he invests in diversified petroleum products like coal and chemicals. Recently Aziz also entered the media sector by acquiring the highly respected name Caractères in the Moroccan media industry. Aziz is also the second richest man in Morocco.

#Muhammad Mansour

Country: Egypt

Net assets: US $ 2.5 billion (2021)

Age: 72

Like his brother Youseff, Mohamed Mansour runs the family-owned Mansour Group. Mr. Loutfy Mansour, the founder of Mansour Group, came from a humble background. Now his three sons have turned him into a US $ 7.5 billion conglomerate whose business involves automobiles and consumer goods, banking and real estate, education, healthcare and other fields in nursing. In terms of transportation and logistics, the Mansour Group has operations in more than 100 countries and has exclusive rights to manufacture and distribute products of various multinational companies such as General Motors throughout Africa. Mohamed Mansour also served as Egypt’s Minister of Transport from 2006 to 2009 under the Hosni Mubarak regime. His son Loutfy has also become a successful businessman by successfully running Man Capital, the investment arm of the Mansour Group.

#Koos Bekker

Country: South Africa

Net worth: $ 2.8 billion (2021)

Age: 68

Koos Bekker is the president of the South African media group Naspers (JSE: NPN). Naspers has the largest market capitalization outside of China, the United States, and India. It is listed on the Johannesburg (JSE) and London (LSE) stock exchanges. Naspers services include classified ads, online payments, fintech (fintech), and food delivery. Bekker’s salary package during his tenure as CEO of Naspers Group was only the granting of stock options. Naspers’ market value has grown from $ 1.2 billion in the early 2000s to $ 46 billion at the end of Bekker’s tenure as CEO from 1997 to 2014. His initial investment in the Chinese technology and technology company Tencent was the most profitable gamble and became CEO. In 2001, he bought Tencent shares worth US$32 million. These bets today reached 133 million US dollars. In addition, Bekker also acquired many profitable companies during his tenure, such as OLX, DSTV and MTN, as well as majority stakes in Prosus, Media24 and Takealot.

#Patrice Motsepe

Country: South Africa

Net worth: USD 3 billion (2021)

Age: 58

Patrice Motsepe made his fortune from the mining industry. Motsepe started his professional career at Bowman Gilfillan Law Firm in Johannesburg. Later, in 1997, he founded Rainbow Minerals Africa, which is dedicated to the extraction and refining of gold, ferrous metals, base metals, and platinum. Recently, he was appointed president of the African Football Federation (CAF). He is also a board member of leading African companies, including Harmony Gold, BRICS Business Council, and Sanlam. In 2008, Motsepe became the first black African to be included on the Forbes list of billionaires. Patrice Motsepe signed a donation pledge in 2013, donating half of her wealth to charities.

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